QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
(State of Incorporation) | (I.R.S. Employer Identification No.) |
Depositary Shares, each representing a 1/40th interest | ||||||||||||||
in a share of 7.75% fixed rate reset non-cumulative | ||||||||||||||
(Title of Each Class) | (Trading Symbol) | (Name of Exchange on Which Registered) |
☑ | ☐ | Accelerated filer | ☐ | Non-accelerated filer | |||||||||||||
Smaller reporting company | Emerging growth company | ||||||||||||||||
☐ | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. |
Page | ||||||||
PART I. FINANCIAL INFORMATION | ||||||||
Item 1. | Condensed Consolidated Financial Statements (Unaudited) | |||||||
Condensed Consolidated Balance Sheets (Unaudited) | ||||||||
Condensed Consolidated Statements of Earnings (Unaudited) | ||||||||
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) | ||||||||
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) | ||||||||
Condensed Consolidated Statements of Cash Flows (Unaudited) | ||||||||
Notes to Condensed Consolidated Financial Statements (Unaudited) | ||||||||
Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | |||||||
Item 3. | Quantitative and Qualitative Disclosures About Market Risk | |||||||
Item 4. | Controls and Procedures | |||||||
PART II. OTHER INFORMATION | ||||||||
Item 1. | Legal Proceedings | |||||||
Item 1A. | Risk Factors | |||||||
Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | |||||||
Item 6. | Index to Exhibits | |||||||
Signatures |
ACL | Allowance for Credit Losses | FRBSF | Federal Reserve Bank of San Francisco | |||||||||||
AFS | Available-for-Sale | GDP | Gross Domestic Product | |||||||||||
AFX | American Financial Exchange | HOA Business | Homeowners Association Services Division of MUFG Union Bank, N.A. (a business acquired on October 8, 2021) | |||||||||||
ALLL | Allowance for Loan and Lease Losses | HTM | Held-to-Maturity | |||||||||||
ALM | Asset Liability Management | IPO | Initial Public Offering | |||||||||||
ASC | Accounting Standards Codification | IRR | Interest Rate Risk | |||||||||||
ASU | Accounting Standards Update | LIBOR | London Inter-bank Offered Rate | |||||||||||
Basel III | A comprehensive capital framework and rules for U.S. banking organizations approved by the FRB and the FDIC in 2013 | LIHTC | Low Income Housing Tax Credit | |||||||||||
BHCA | Bank Holding Company Act of 1956, as amended | MBS | Mortgage-Backed Securities | |||||||||||
BOLI | Bank Owned Life Insurance | MVE | Market Value of Equity | |||||||||||
CARES Act | Coronavirus Aid, Relief, and Economic Security Act | NAV | Net Asset Value | |||||||||||
CDI | Core Deposit Intangible Assets | NII | Net Interest Income | |||||||||||
CECL | Current Expected Credit Loss | NIM | Net Interest Margin | |||||||||||
CET1 | Common Equity Tier 1 | NSF | Non-Sufficient Funds | |||||||||||
Civic | Civic Financial Services, LLC (a company acquired on February 1, 2021) | OREO | Other Real Estate Owned | |||||||||||
CMBS | Commercial Mortgage-Backed Securities | PPP | Paycheck Protection Program | |||||||||||
CMOs | Collateralized Mortgage Obligations | PRSUs | Performance-Based Restricted Stock Units | |||||||||||
Core Deposits | Includes noninterest-bearing checking accounts, interest checking accounts, money market accounts, and savings accounts | PWAM | Pacific Western Asset Management Inc. | |||||||||||
COVID-19 | Coronavirus Disease | ROU | Right-of-use | |||||||||||
CPI | Consumer Price Index | S&P | Standard & Poor's | |||||||||||
CRA | Community Reinvestment Act | SBA | Small Business Administration | |||||||||||
CRE | Commercial Real Estate | SBIC | Small Business Investment Company | |||||||||||
CRI | Customer Relationship Intangible Assets | SEC | Securities and Exchange Commission | |||||||||||
DFPI | California Department of Financial Protection and Innovation | SOFR | Secured Overnight Financing Rate | |||||||||||
DTAs | Deferred Tax Assets | Tax Equivalent Net Interest Income | Net interest income reflecting adjustments related to tax-exempt interest on certain loans and investment securities | |||||||||||
Dodd-Frank Act | Dodd-Frank Wall Street Reform and Consumer Protection Act | Tax Equivalent NIM | NIM reflecting adjustments related to tax-exempt interest on certain loans and investment securities | |||||||||||
Efficiency Ratio | Noninterest expense (less intangible asset amortization, net foreclosed assets expense (income), goodwill impairment, and acquisition, integration and reorganization costs) divided by net revenues (the sum of tax equivalent net interest income plus noninterest income, less gain/loss on sale of securities and gain/loss on sales of assets other than loans and leases) | TDRs | Troubled Debt Restructurings | |||||||||||
FASB | Financial Accounting Standards Board | TRSAs | Time-Based Restricted Stock Awards | |||||||||||
FDIC | Federal Deposit Insurance Corporation | U.S. GAAP | U.S. Generally Accepted Accounting Principles | |||||||||||
FHLB | Federal Home Loan Bank of San Francisco | VIE | Variable Interest Entity | |||||||||||
FRB | Board of Governors of the Federal Reserve System | |||||||||||||
June 30, | December 31, | ||||||||||
2022 | 2021 | ||||||||||
(Unaudited) | |||||||||||
(Dollars in thousands, except par value amounts) | |||||||||||
ASSETS: | |||||||||||
Cash and due from banks | $ | $ | |||||||||
Interest-earning deposits in financial institutions | |||||||||||
Total cash, cash equivalents, and restricted cash | |||||||||||
Securities available-for-sale, at fair value | |||||||||||
Securities held-to-maturity, at amortized cost, net of allowance for credit losses | |||||||||||
Federal Home Loan Bank stock, at cost | |||||||||||
Total investment securities | |||||||||||
Gross loans and leases held for investment | |||||||||||
Deferred fees, net | ( | ( | |||||||||
Allowance for loan and lease losses | ( | ( | |||||||||
Total loans and leases held for investment, net | |||||||||||
Equipment leased to others under operating leases | |||||||||||
Premises and equipment, net | |||||||||||
Foreclosed assets, net | |||||||||||
Goodwill | |||||||||||
Core deposit and customer relationship intangibles, net | |||||||||||
Other assets | |||||||||||
Total assets | $ | $ | |||||||||
LIABILITIES: | |||||||||||
Noninterest-bearing deposits | $ | $ | |||||||||
Interest-bearing deposits | |||||||||||
Total deposits | |||||||||||
Borrowings | |||||||||||
Subordinated debt | |||||||||||
Accrued interest payable and other liabilities | |||||||||||
Total liabilities | |||||||||||
Commitments and contingencies | |||||||||||
STOCKHOLDERS' EQUITY: | |||||||||||
Preferred stock ($ | |||||||||||
$ | |||||||||||
Common stock ($ | |||||||||||
December 31, 2021; | |||||||||||
Additional paid-in capital | |||||||||||
Retained earnings | |||||||||||
Treasury stock, at cost ( | ( | ( | |||||||||
Accumulated other comprehensive (loss) income, net | ( | ||||||||||
Total stockholders' equity | |||||||||||
Total liabilities and stockholders' equity | $ | $ |
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||||||||
Interest income: | |||||||||||||||||||||||
Loans and leases | $ | $ | $ | $ | |||||||||||||||||||
Investment securities | |||||||||||||||||||||||
Deposits in financial institutions | |||||||||||||||||||||||
Total interest income | |||||||||||||||||||||||
Interest expense: | |||||||||||||||||||||||
Deposits | |||||||||||||||||||||||
Borrowings | |||||||||||||||||||||||
Subordinated debt | |||||||||||||||||||||||
Total interest expense | |||||||||||||||||||||||
Net interest income | |||||||||||||||||||||||
Provision for credit losses | ( | ( | |||||||||||||||||||||
Net interest income after provision for credit losses | |||||||||||||||||||||||
Noninterest income: | |||||||||||||||||||||||
Leased equipment income | |||||||||||||||||||||||
Other commissions and fees | |||||||||||||||||||||||
Service charges on deposit accounts | |||||||||||||||||||||||
Gain on sale of loans and leases | |||||||||||||||||||||||
(Loss) gain on sale of securities | ( | ( | |||||||||||||||||||||
Dividends and gains (losses) on equity investments | ( | ||||||||||||||||||||||
Warrant income | |||||||||||||||||||||||
Other income | |||||||||||||||||||||||
Total noninterest income | |||||||||||||||||||||||
Noninterest expense: | |||||||||||||||||||||||
Compensation | |||||||||||||||||||||||
Occupancy | |||||||||||||||||||||||
Customer related expense | |||||||||||||||||||||||
Data processing | |||||||||||||||||||||||
Leased equipment depreciation | |||||||||||||||||||||||
Loan expense | |||||||||||||||||||||||
Other professional services | |||||||||||||||||||||||
Insurance and assessments | |||||||||||||||||||||||
Intangible asset amortization | |||||||||||||||||||||||
Foreclosed assets income, net | ( | ( | ( | ( | |||||||||||||||||||
Acquisition, integration and reorganization costs | |||||||||||||||||||||||
Other expense | |||||||||||||||||||||||
Total noninterest expense | |||||||||||||||||||||||
Earnings before income taxes | |||||||||||||||||||||||
Income tax expense | |||||||||||||||||||||||
Net earnings | $ | $ | $ | $ | |||||||||||||||||||
Earnings per common share: | |||||||||||||||||||||||
Basic | $ | $ | $ | $ | |||||||||||||||||||
Diluted | $ | $ | $ | $ |
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Net earnings | $ | $ | $ | $ | |||||||||||||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||||||||||||
Unrealized net holding (losses) gains on securities | |||||||||||||||||||||||
available-for-sale arising during the period | ( | ( | ( | ||||||||||||||||||||
Income tax benefit (expense) related to net unrealized | |||||||||||||||||||||||
holding gains (losses) arising during the period | ( | ||||||||||||||||||||||
Unrealized net holding (losses) gains on securities | |||||||||||||||||||||||
available-for-sale, net of tax | ( | ( | ( | ||||||||||||||||||||
Reclassification adjustment for net losses (gains) included | |||||||||||||||||||||||
in net earnings (1) | ( | ||||||||||||||||||||||
Income tax (benefit) expense related to reclassification | |||||||||||||||||||||||
adjustment | ( | ( | |||||||||||||||||||||
Reclassification adjustment for net losses (gains) | |||||||||||||||||||||||
included in net earnings, net of tax | ( | ||||||||||||||||||||||
Unrealized net loss on securities transferred from | |||||||||||||||||||||||
available-for-sale to held-to-maturity | ( | ( | |||||||||||||||||||||
Amortization of unrealized net loss on securities | |||||||||||||||||||||||
transferred from available-for-sale to | |||||||||||||||||||||||
held-to-maturity | |||||||||||||||||||||||
Income tax (benefit) expense related to amortization | |||||||||||||||||||||||
of unrealized net loss on securities transferred | |||||||||||||||||||||||
from available-for-sale to held-to-maturity | ( | ( | |||||||||||||||||||||
Amortization of unrealized net loss on securities | |||||||||||||||||||||||
transferred from available-for-sale to | |||||||||||||||||||||||
held-to-maturity, net of tax | |||||||||||||||||||||||
Other comprehensive income (loss), net of tax | ( | ( | ( | ||||||||||||||||||||
Comprehensive income (loss) | $ | ( | $ | $ | ( | $ |
Six Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
Common Stock | Accumulated | ||||||||||||||||||||||||||||||||||||||||||||||
Additional | Other | ||||||||||||||||||||||||||||||||||||||||||||||
Preferred | Par | Paid-in | Retained | Treasury | Comprehensive | ||||||||||||||||||||||||||||||||||||||||||
Stock | Shares | Value | Capital | Earnings | Stock | Income (Loss) | Total | ||||||||||||||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||||||||||||||||||||
(In thousands, except per share amount) | |||||||||||||||||||||||||||||||||||||||||||||||
Balance, December 31, 2021 | $ | $ | $ | $ | $ | ( | $ | $ | |||||||||||||||||||||||||||||||||||||||
Net earnings | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Other comprehensive loss, | |||||||||||||||||||||||||||||||||||||||||||||||
net of tax | — | — | — | — | — | — | ( | ( | |||||||||||||||||||||||||||||||||||||||
Restricted stock awarded and | |||||||||||||||||||||||||||||||||||||||||||||||
earned stock compensation, | |||||||||||||||||||||||||||||||||||||||||||||||
net of shares forfeited | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Restricted stock surrendered | — | ( | — | — | — | ( | — | ( | |||||||||||||||||||||||||||||||||||||||
Cash dividends paid: | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock, $ | — | — | — | ( | — | — | — | ( | |||||||||||||||||||||||||||||||||||||||
Balance, March 31, 2022 | $ | $ | $ | $ | $ | ( | $ | ( | $ | ||||||||||||||||||||||||||||||||||||||
Net earnings | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Other comprehensive loss, | |||||||||||||||||||||||||||||||||||||||||||||||
net of tax | — | — | — | — | — | — | ( | ( | |||||||||||||||||||||||||||||||||||||||
Issuance of preferred stock, | |||||||||||||||||||||||||||||||||||||||||||||||
net of offering costs (1) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Restricted stock awarded and | |||||||||||||||||||||||||||||||||||||||||||||||
earned stock compensation, | |||||||||||||||||||||||||||||||||||||||||||||||
net of shares forfeited | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Restricted stock surrendered | — | ( | — | — | — | ( | — | ( | |||||||||||||||||||||||||||||||||||||||
Cash dividends paid: | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock, $ | — | — | — | ( | — | — | — | ( | |||||||||||||||||||||||||||||||||||||||
Balance, June 30, 2022 | $ | $ | $ | $ | $ | ( | $ | ( | $ | ||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||||||||
Common Stock | Accumulated | ||||||||||||||||||||||||||||||||||||||||
Additional | Other | ||||||||||||||||||||||||||||||||||||||||
Par | Paid-in | Retained | Treasury | Comprehensive | |||||||||||||||||||||||||||||||||||||
Shares | Value | Capital | Earnings | Stock | Income | Total | |||||||||||||||||||||||||||||||||||
(Unaudited) | |||||||||||||||||||||||||||||||||||||||||
(In thousands, except per share amount) | |||||||||||||||||||||||||||||||||||||||||
Balance, December 31, 2020 | $ | $ | $ | $ | ( | $ | $ | ||||||||||||||||||||||||||||||||||
Net earnings | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Other comprehensive loss, | |||||||||||||||||||||||||||||||||||||||||
net of tax | — | — | — | — | — | ( | ( | ||||||||||||||||||||||||||||||||||
Restricted stock awarded and | |||||||||||||||||||||||||||||||||||||||||
earned stock compensation, | |||||||||||||||||||||||||||||||||||||||||
net of shares forfeited | — | — | — | ||||||||||||||||||||||||||||||||||||||
Restricted stock surrendered | ( | — | — | — | ( | — | ( | ||||||||||||||||||||||||||||||||||
Cash dividends paid: | |||||||||||||||||||||||||||||||||||||||||
Common stock, $ | — | — | ( | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Balance, March 31, 2021 | $ | $ | $ | $ | ( | $ | $ | ||||||||||||||||||||||||||||||||||
Net earnings | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Other comprehensive income, | |||||||||||||||||||||||||||||||||||||||||
net of tax | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Restricted stock awarded and | |||||||||||||||||||||||||||||||||||||||||
earned stock compensation, | |||||||||||||||||||||||||||||||||||||||||
net of shares forfeited | — | — | — | ||||||||||||||||||||||||||||||||||||||
Restricted stock surrendered | ( | — | — | — | ( | — | ( | ||||||||||||||||||||||||||||||||||
Cash dividends paid: | |||||||||||||||||||||||||||||||||||||||||
Common stock, $ | — | — | ( | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Balance, June 30, 2021 | $ | $ | $ | $ | ( | $ | $ | ||||||||||||||||||||||||||||||||||
Six Months Ended | |||||||||||
June 30, | |||||||||||
2022 | 2021 | ||||||||||
(Unaudited) | |||||||||||
(In thousands) | |||||||||||
Cash flows from operating activities: | |||||||||||
Net earnings | $ | $ | |||||||||
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
Amortization of net premiums on investment securities | |||||||||||
Amortization of intangible assets | |||||||||||
Amortization of operating lease ROU assets | |||||||||||
Provision for credit losses | ( | ||||||||||
Gain on sale of foreclosed assets | ( | ( | |||||||||
Provision for losses on foreclosed assets | |||||||||||
Gain on sale of loans and leases | ( | ( | |||||||||
Gain on sale of premises and equipment | ( | ( | |||||||||
Loss (gain) on sale of securities | ( | ||||||||||
Gain on BOLI death benefit | ( | ||||||||||
Unrealized gain on derivatives and foreign currencies, net | ( | ( | |||||||||
Earned stock compensation | |||||||||||
(Increase) decrease in other assets | ( | ||||||||||
Decrease in accrued interest payable and other liabilities | ( | ( | |||||||||
Net cash provided by operating activities | |||||||||||
Cash flows from investing activities: | |||||||||||
Cash paid for acquisition, net | ( | ||||||||||
Net increase in loans and leases | ( | ( | |||||||||
Proceeds from sales of loans and leases | |||||||||||
Proceeds from maturities and paydowns of securities available-for-sale | |||||||||||
Proceeds from sales of securities available-for-sale | |||||||||||
Purchases of securities available-for-sale | ( | ( | |||||||||
Proceeds from maturities and paydowns of securities held-to-maturity | |||||||||||
Net purchases of Federal Home Loan Bank stock | ( | ||||||||||
Proceeds from sales of foreclosed assets | |||||||||||
Purchases of premises and equipment, net | ( | ( | |||||||||
Proceeds from sales of premises and equipment | |||||||||||
Proceeds from BOLI death benefit | |||||||||||
Net (increase) decrease in equipment leased to others under operating leases | ( | ||||||||||
Net cash used in investing activities | ( | ( | |||||||||
Cash flows from financing activities: | |||||||||||
Net (decrease) increase in noninterest-bearing deposits | ( | ||||||||||
Net increase in interest-bearing deposits | |||||||||||
Net increase (decrease) in borrowings | ( | ||||||||||
Proceeds from subordinated notes offering | |||||||||||
Proceeds from preferred stock offering | |||||||||||
Common stock repurchased and restricted stock surrendered | ( | ( | |||||||||
Cash dividends paid | ( | ( | |||||||||
Net cash provided by financing activities | |||||||||||
Net (decrease) increase in cash, cash equivalents, and restricted cash | ( | ||||||||||
Cash, cash equivalents, and restricted cash, beginning of period | |||||||||||
Cash, cash equivalents, and restricted cash, end of period | $ | $ | |||||||||
Six Months Ended | |||||||||||
June 30, | |||||||||||
2022 | 2021 | ||||||||||
(Unaudited) | |||||||||||
(In thousands) | |||||||||||
Supplemental disclosures of cash flow information: | |||||||||||
Cash paid for interest | $ | $ | |||||||||
Cash paid for income taxes | |||||||||||
Loans transferred to foreclosed assets | |||||||||||
Transfers from loans held for investment to loans held for sale | |||||||||||
Transfer of securities available-for-sale to held-to-maturity | |||||||||||
Effective February 1, 2021, the Company acquired Civic | |||||||||||
in a transaction summarized as follows: | |||||||||||
Fair value of assets acquired | $ | ||||||||||
Cash paid | ( | ||||||||||
Liabilities assumed | $ | ||||||||||
June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
Gross | Gross | Gross | Gross | ||||||||||||||||||||||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||||||||||||||||||||
Security Type | Cost | Gains | Losses | Value | Cost | Gains | Losses | Value | |||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
Agency residential MBS | $ | $ | $ | ( | $ | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||||||||||||
Agency commercial MBS | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
Agency residential CMOs | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
Municipal securities | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
Collateralized loan obligations | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
Private label residential CMOs | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
Private label commercial MBS | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
SBA securities | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | ( | $ | $ | $ | $ | ( | $ |
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
Sales of Securities Available-for-Sale | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Amortized cost of securities sold | $ | $ | $ | $ | |||||||||||||||||||
Gross realized gains | $ | $ | $ | $ | |||||||||||||||||||
Gross realized losses | ( | ( | |||||||||||||||||||||
Net realized (losses) gains | $ | ( | $ | $ | ( | $ |
June 30, 2022 | |||||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||||||||||||
Security Type | Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Agency residential MBS | $ | $ | ( | $ | $ | ( | $ | $ | ( | ||||||||||||||||||||||||||
Agency commercial MBS | ( | ( | ( | ||||||||||||||||||||||||||||||||
Agency residential CMOs | ( | ( | ( | ||||||||||||||||||||||||||||||||
Municipal securities | ( | ( | |||||||||||||||||||||||||||||||||
U.S. Treasury securities | ( | ( | |||||||||||||||||||||||||||||||||
Corporate debt securities | ( | ( | |||||||||||||||||||||||||||||||||
Collateralized loan obligations | ( | ( | ( | ||||||||||||||||||||||||||||||||
Private label residential CMOs | ( | ( | |||||||||||||||||||||||||||||||||
Asset-backed securities | ( | ( | |||||||||||||||||||||||||||||||||
Private label commercial MBS | ( | ( | ( | ||||||||||||||||||||||||||||||||
SBA securities | ( | ( | ( | ||||||||||||||||||||||||||||||||
Total | $ | $ | ( | $ | $ | ( | $ | $ | ( |
December 31, 2021 | |||||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||||||||||||
Security Type | Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Agency residential MBS | $ | $ | ( | $ | $ | ( | $ | $ | ( | ||||||||||||||||||||||||||
Agency commercial MBS | ( | ( | ( | ||||||||||||||||||||||||||||||||
Agency residential CMOs | ( | ( | ( | ||||||||||||||||||||||||||||||||
Municipal securities | ( | ( | ( | ||||||||||||||||||||||||||||||||
U.S. Treasury securities | ( | ( | |||||||||||||||||||||||||||||||||
Corporate debt securities | ( | ( | |||||||||||||||||||||||||||||||||
Collateralized loan obligations | ( | ( | ( | ||||||||||||||||||||||||||||||||
Private label residential CMOs | ( | ( | |||||||||||||||||||||||||||||||||
Asset-backed securities | ( | ( | ( | ||||||||||||||||||||||||||||||||
Private label commercial MBS | ( | ( | |||||||||||||||||||||||||||||||||
SBA securities | ( | ( | |||||||||||||||||||||||||||||||||
Total | $ | $ | ( | $ | $ | ( | $ | $ | ( |
June 30, 2022 | |||||||||||||||||||||||||||||
Due After | Due After | ||||||||||||||||||||||||||||
Due | One Year | Five Years | Due | ||||||||||||||||||||||||||
Within | Through | Through | After | ||||||||||||||||||||||||||
Security Type | One Year | Five Years | Ten Years | Ten Years | Total | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Amortized Cost: | |||||||||||||||||||||||||||||
Agency residential MBS | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Agency commercial MBS | |||||||||||||||||||||||||||||
Agency residential CMOs | |||||||||||||||||||||||||||||
Municipal securities | |||||||||||||||||||||||||||||
U.S. Treasury securities | |||||||||||||||||||||||||||||
Corporate debt securities | |||||||||||||||||||||||||||||
Collateralized loan obligations | |||||||||||||||||||||||||||||
Private label residential CMOs | |||||||||||||||||||||||||||||
Asset-backed securities | |||||||||||||||||||||||||||||
Private label commercial MBS | |||||||||||||||||||||||||||||
SBA securities | |||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Fair Value: | |||||||||||||||||||||||||||||
Agency residential MBS | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Agency commercial MBS | |||||||||||||||||||||||||||||
Agency residential CMOs | |||||||||||||||||||||||||||||
Municipal securities | |||||||||||||||||||||||||||||
U.S. Treasury securities | |||||||||||||||||||||||||||||
Corporate debt securities | |||||||||||||||||||||||||||||
Collateralized loan obligations | |||||||||||||||||||||||||||||
Private label residential CMOs | |||||||||||||||||||||||||||||
Asset-backed securities | |||||||||||||||||||||||||||||
Private label commercial MBS | |||||||||||||||||||||||||||||
SBA securities | |||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ |
June 30, 2022 | |||||||||||||||||||||||||||||||||||
Allowance | |||||||||||||||||||||||||||||||||||
for | Net | Gross | Gross | ||||||||||||||||||||||||||||||||
Amortized | Credit | Carrying | Unrealized | Unrealized | Fair | ||||||||||||||||||||||||||||||
Security Type | Cost | Losses | Amount | Gains | Losses | Value | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Municipal securities | $ | $ | ( | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||
Agency commercial MBS | ( | ||||||||||||||||||||||||||||||||||
Private label commercial MBS | ( | ||||||||||||||||||||||||||||||||||
U.S. Treasury securities | ( | ||||||||||||||||||||||||||||||||||
Corporate debt securities | ( | ( | |||||||||||||||||||||||||||||||||
Total (1) | $ | $ | ( | $ | $ | $ | ( | $ |
Allowance for | Provision | Allowance for | |||||||||||||||||||||||||||
Credit Losses, | for | Credit Losses, | |||||||||||||||||||||||||||
Beginning | Credit | End of | |||||||||||||||||||||||||||
Security Type | of Period | Losses | Charge-offs | Recoveries | Period | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Three Months Ended June 30, 2022 | |||||||||||||||||||||||||||||
Municipal securities | $ | — | $ | $ | $ | $ | |||||||||||||||||||||||
Corporate debt securities | — | ||||||||||||||||||||||||||||
Total | $ | — | $ | $ | $ | $ | |||||||||||||||||||||||
Six Months Ended June 30, 2022 | |||||||||||||||||||||||||||||
Municipal securities | $ | — | $ | $ | $ | $ | |||||||||||||||||||||||
Corporate debt securities | — | ||||||||||||||||||||||||||||
Total | $ | — | $ | $ | $ | $ |
June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Security Type | AAA | AA+ | AA | AA- | A | A- | BBB | NR | Total | ||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Municipal securities | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Agency commercial MBS | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Private label commercial | |||||||||||||||||||||||||||||||||||||||||||||||||||||
MBS | |||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ |
June 30, 2022 | |||||||||||||||||||||||||||||
Due After | Due After | ||||||||||||||||||||||||||||
Due | One Year | Five Years | Due | ||||||||||||||||||||||||||
Within | Through | Through | After | ||||||||||||||||||||||||||
Security Type | One Year | Five Years | Ten Years | Ten Years | Total | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Amortized Cost: | |||||||||||||||||||||||||||||
Municipal securities | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Agency commercial MBS | |||||||||||||||||||||||||||||
Private label commercial MBS | |||||||||||||||||||||||||||||
U.S. Treasury securities | |||||||||||||||||||||||||||||
Corporate debt securities | |||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Fair Value: | |||||||||||||||||||||||||||||
Municipal securities | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Agency commercial MBS | |||||||||||||||||||||||||||||
Private label commercial MBS | |||||||||||||||||||||||||||||
U.S. Treasury securities | |||||||||||||||||||||||||||||
Corporate debt securities | |||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ |
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Taxable interest | $ | $ | $ | $ | |||||||||||||||||||
Non-taxable interest | |||||||||||||||||||||||
Dividend income | |||||||||||||||||||||||
Total interest income on investment securities | $ | $ | $ | $ |
June 30, | December 31, | ||||||||||
2022 | 2021 | ||||||||||
(In thousands) | |||||||||||
Real estate mortgage | $ | $ | |||||||||
Real estate construction and land (1) | |||||||||||
Commercial | |||||||||||
Consumer | |||||||||||
Total gross loans and leases held for investment | |||||||||||
Deferred fees, net | ( | ( | |||||||||
Total loans and leases held for investment, net of deferred fees | |||||||||||
Allowance for loan and lease losses | ( | ( | |||||||||
Total loans and leases held for investment, net (2) | $ | $ |
June 30, 2022 | |||||||||||||||||||||||||||||
30 - 89 | 90 or More | ||||||||||||||||||||||||||||
Days | Days | Total | |||||||||||||||||||||||||||
Past Due | Past Due | Past Due | Current | Total | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||||||||
Commercial | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Total real estate mortgage | |||||||||||||||||||||||||||||
Real estate construction and land: | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Total real estate construction and land | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Asset-based | |||||||||||||||||||||||||||||
Venture capital | |||||||||||||||||||||||||||||
Other commercial | |||||||||||||||||||||||||||||
Total commercial | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ |
December 31, 2021 | |||||||||||||||||||||||||||||
30 - 89 | 90 or More | ||||||||||||||||||||||||||||
Days | Days | Total | |||||||||||||||||||||||||||
Past Due | Past Due | Past Due | Current | Total | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||||||||
Commercial | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Total real estate mortgage | |||||||||||||||||||||||||||||
Real estate construction and land: | |||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||
Total real estate construction and land | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||
Asset-based | |||||||||||||||||||||||||||||
Venture capital | |||||||||||||||||||||||||||||
Other commercial | |||||||||||||||||||||||||||||
Total commercial | |||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ |
June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||||||||||||||
Nonaccrual | Performing | Total | Nonaccrual | Performing | Total | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||||||||||||||
Commercial | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||||
Total real estate mortgage | |||||||||||||||||||||||||||||||||||
Real estate construction and land: | |||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||||
Total real estate construction and land | |||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||
Asset-based | |||||||||||||||||||||||||||||||||||
Venture capital | |||||||||||||||||||||||||||||||||||
Other commercial | |||||||||||||||||||||||||||||||||||
Total commercial | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ |
June 30, 2022 | |||||||||||||||||||||||
Classified | Special Mention | Pass | Total | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||
Commercial | $ | $ | $ | $ | |||||||||||||||||||
Residential | |||||||||||||||||||||||
Total real estate mortgage | |||||||||||||||||||||||
Real estate construction and land: | |||||||||||||||||||||||
Commercial | |||||||||||||||||||||||
Residential | |||||||||||||||||||||||
Total real estate construction and land | |||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||
Asset-based | |||||||||||||||||||||||
Venture capital | |||||||||||||||||||||||
Other commercial | |||||||||||||||||||||||
Total commercial | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||
Total | $ | $ | $ | $ |
December 31, 2021 | |||||||||||||||||||||||
Classified | Special Mention | Pass | Total | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||
Commercial | $ | $ | $ | $ | |||||||||||||||||||
Residential | |||||||||||||||||||||||
Total real estate mortgage | |||||||||||||||||||||||
Real estate construction and land: | |||||||||||||||||||||||
Commercial | |||||||||||||||||||||||
Residential | |||||||||||||||||||||||
Total real estate construction and land | |||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||
Asset-based | |||||||||||||||||||||||
Venture capital | |||||||||||||||||||||||
Other commercial | |||||||||||||||||||||||
Total commercial | |||||||||||||||||||||||
Consumer | |||||||||||||||||||||||
Total | $ | $ | $ | $ |
Three Months | Six Months | Three Months | Six Months | ||||||||||||||||||||||||||||||||
Ended | Ended | Ended | Ended | ||||||||||||||||||||||||||||||||
June 30, | June 30, | June 30, | June 30, | June 30, | June 30, | ||||||||||||||||||||||||||||||
2022 | 2022 | 2022 | 2021 | 2021 | 2021 | ||||||||||||||||||||||||||||||
Nonaccrual | Interest | Interest | Nonaccrual | Interest | Interest | ||||||||||||||||||||||||||||||
Recorded | Income | Income | Recorded | Income | Income | ||||||||||||||||||||||||||||||
Investment | Recognized | Recognized | Investment | Recognized | Recognized | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
With An Allowance Recorded: | |||||||||||||||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||||||||||||||
Commercial | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||||
Real estate construction and land: | |||||||||||||||||||||||||||||||||||
Commercial | — | — | |||||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||
Asset based | |||||||||||||||||||||||||||||||||||
Venture capital | |||||||||||||||||||||||||||||||||||
Other commercial | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||
With No Related Allowance Recorded: | |||||||||||||||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||||||||||||||
Commercial | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||||
Real estate construction and land: | |||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||
Asset based | |||||||||||||||||||||||||||||||||||
Venture capital | — | — | |||||||||||||||||||||||||||||||||
Other commercial | |||||||||||||||||||||||||||||||||||
Consumer | — | — | |||||||||||||||||||||||||||||||||
Total Loans and Leases With and | |||||||||||||||||||||||||||||||||||
Without an Allowance Recorded: | |||||||||||||||||||||||||||||||||||
Real estate mortgage | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Real estate construction and land | |||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ |
Revolving | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Converted | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost Basis (1) | Term Loans by Origination Year | Revolving | to Term | ||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | 2022 | 2021 | 2020 | 2019 | 2018 | Prior | Loans | Loans | Total | ||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Mortgage: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Real Estate Mortgage: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||
and Land: Commercial | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | ( | ||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | ( | $ | $ | |||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Revolving | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Converted | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost Basis (1) | Term Loans by Origination Year | Revolving | to Term | ||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | 2022 | 2021 | 2020 | 2019 | 2018 | Prior | Loans | Loans | Total | ||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||
and Land: Residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | ( | ||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | ( | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | ( | $ | $ | |||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Commercial: Asset-Based | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Commercial: Venture | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | ( | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ |
Revolving | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Converted | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost Basis (1) | Term Loans by Origination Year | Revolving | to Term | ||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2022 | 2022 | 2021 | 2020 | 2019 | 2018 | Prior | Loans | Loans | Total | ||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: Other | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | ( | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Total Loans and Leases | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ |
Revolving | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Converted | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost Basis | Term Loans by Origination Year | Revolving | to Term | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2021 | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Loans | Loans | Total | ||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Mortgage: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Gross recoveries | ( | ( | ( | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net | $ | $ | $ | $ | $ | $ | ( | $ | $ | $ | ( | ||||||||||||||||||||||||||||||||||||||||||
Real Estate Mortgage: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Gross recoveries | ( | ( | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||||||
Net | $ | $ | $ | $ | $ | $ | ( | $ | $ | ( | $ | ( | |||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||
and Land: Commercial | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Gross recoveries | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Net | $ | $ | $ | $ | $ | $ | $ | $ | $ |
Revolving | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Converted | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost Basis (1) | Term Loans by Origination Year | Revolving | to Term | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2021 | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Loans | Loans | Total | ||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Real Estate Construction | |||||||||||||||||||||||||||||||||||||||||||||||||||||
and Land: Residential | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Gross recoveries | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Commercial: Asset-Based | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Gross recoveries | ( | ( | ( | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net | $ | $ | $ | $ | $ | $ | ( | $ | ( | $ | $ | ( | |||||||||||||||||||||||||||||||||||||||||
Commercial: Venture | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | ( | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | ( | ||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | ( | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Gross recoveries | ( | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||||||||||||||||
Net | $ | $ | $ | ( | $ | ( | $ | ( | $ | $ | $ | $ |
Revolving | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Converted | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost Basis (1) | Term Loans by Origination Year | Revolving | to Term | ||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2021 | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Loans | Loans | Total | ||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: Other | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | ( | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | ( | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Gross recoveries | ( | ( | ( | ( | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||||
Net | $ | $ | $ | $ | $ | ( | $ | ( | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Gross recoveries | ( | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||||||||||||||||
Net | $ | $ | $ | $ | $ | $ | $ | ( | $ | $ | |||||||||||||||||||||||||||||||||||||||||||
Total Loans and Leases | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal risk rating: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
1-2 High pass | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
3-4 Pass | |||||||||||||||||||||||||||||||||||||||||||||||||||||
5 Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||
6-8 Classified | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Current YTD period: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||
Gross recoveries | ( | ( | ( | ( | ( | ( | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||
Net | $ | $ | $ | $ | $ | $ | ( | $ | $ | $ | ( |
Three Months Ended June 30, | |||||||||||||||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||||||||||||||
Pre- | Post- | Pre- | Post- | ||||||||||||||||||||||||||||||||
Modification | Modification | Modification | Modification | ||||||||||||||||||||||||||||||||
Number | Outstanding | Outstanding | Number | Outstanding | Outstanding | ||||||||||||||||||||||||||||||
of | Recorded | Recorded | of | Recorded | Recorded | ||||||||||||||||||||||||||||||
Troubled Debt Restructurings | Loans | Investment | Investment | Loans | Investment | Investment | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||||||||||||||
Commercial | $ | $ | $ | $ | |||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||||
Real estate construction and land: | |||||||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||
Venture capital | |||||||||||||||||||||||||||||||||||
Other commercial | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ |
Six Months Ended June 30, | |||||||||||||||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||||||||||||||
Pre- | Post- | Pre- | Post- | ||||||||||||||||||||||||||||||||
Modification | Modification | Modification | Modification | ||||||||||||||||||||||||||||||||
Number | Outstanding | Outstanding | Number | Outstanding | Outstanding | ||||||||||||||||||||||||||||||
of | Recorded | Recorded | of | Recorded | Recorded | ||||||||||||||||||||||||||||||
Troubled Debt Restructurings | Loans | Investment | Investment | Loans | Investment | Investment | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||||||||||||||
Commercial | $ | $ | $ | $ | |||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||||
Real estate construction and land: | |||||||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||
Asset-based | |||||||||||||||||||||||||||||||||||
Venture capital | |||||||||||||||||||||||||||||||||||
Other commercial | |||||||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ |
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Component of leases receivable income: | |||||||||||||||||||||||
Interest income on net investments in leases | $ | $ | $ | $ |
June 30, 2022 | December 31, 2021 | ||||||||||
(In thousands) | |||||||||||
Net investment in direct financing leases: | |||||||||||
Lease payments receivable | $ | $ | |||||||||
Unguaranteed residual assets | |||||||||||
Deferred costs and other | |||||||||||
Aggregate net investment in leases | $ | $ | |||||||||
June 30, 2022 | |||||
(In thousands) | |||||
Period ending December 31, | |||||
2022 | $ | ||||
2023 | |||||
2024 | |||||
2025 | |||||
2026 | |||||
Thereafter | |||||
Total undiscounted cash flows | |||||
Less: Unearned income | ( | ||||
Present value of lease payments | $ |
Three Months Ended June 30, 2022 | |||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||
Real Estate | Construction | ||||||||||||||||||||||||||||
Mortgage | and Land | Commercial | Consumer | Total | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses: | |||||||||||||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Charge-offs | ( | ( | ( | ( | ( | ||||||||||||||||||||||||
Recoveries | |||||||||||||||||||||||||||||
Net (charge-offs) recoveries | ( | ( | ( | ||||||||||||||||||||||||||
Provision | ( | ( | ( | ( | ( | ||||||||||||||||||||||||
Balance, end of period | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Six Months Ended June 30, 2022 | |||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||
Real Estate | Construction | ||||||||||||||||||||||||||||
Mortgage | and Land | Commercial | Consumer | Total | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses: | |||||||||||||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Charge-offs | ( | ( | ( | ( | ( | ||||||||||||||||||||||||
Recoveries | |||||||||||||||||||||||||||||
Net (charge-offs) recoveries | ( | ( | |||||||||||||||||||||||||||
Provision | ( | ( | ( | ( | |||||||||||||||||||||||||
Balance, end of period | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Ending Allowance by | |||||||||||||||||||||||||||||
Evaluation Methodology: | |||||||||||||||||||||||||||||
Individually evaluated | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Collectively evaluated | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Ending Loans and Leases by | |||||||||||||||||||||||||||||
Evaluation Methodology: | |||||||||||||||||||||||||||||
Individually evaluated | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Collectively evaluated | |||||||||||||||||||||||||||||
Ending balance | $ | $ | $ | $ | $ |
Three Months Ended June 30, 2021 | |||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||
Real Estate | Construction | ||||||||||||||||||||||||||||
Mortgage | and Land | Commercial | Consumer | Total | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses: | |||||||||||||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Charge-offs | ( | ( | ( | ( | ( | ||||||||||||||||||||||||
Recoveries | |||||||||||||||||||||||||||||
Net (charge-offs) recoveries | ( | ( | |||||||||||||||||||||||||||
Provision | ( | ( | ( | ( | |||||||||||||||||||||||||
Balance, end of period | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Six Months Ended June 30, 2021 | |||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||
Real Estate | Construction | ||||||||||||||||||||||||||||
Mortgage | and Land | Commercial | Consumer | Total | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses: | |||||||||||||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Charge-offs | ( | ( | ( | ( | ( | ||||||||||||||||||||||||
Recoveries | |||||||||||||||||||||||||||||
Net (charge-offs) recoveries | ( | ( | ( | ||||||||||||||||||||||||||
Provision | ( | ( | ( | ( | |||||||||||||||||||||||||
Balance, end of period | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Ending Allowance by | |||||||||||||||||||||||||||||
Evaluation Methodology: | |||||||||||||||||||||||||||||
Individually evaluated | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Collectively evaluated | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Ending Loans and Leases by | |||||||||||||||||||||||||||||
Evaluation Methodology: | |||||||||||||||||||||||||||||
Individually evaluated | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Collectively evaluated | |||||||||||||||||||||||||||||
Ending balance | $ | $ | $ | $ | $ |
June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||||||||||||||
Real | Business | Real | Business | ||||||||||||||||||||||||||||||||
Property | Assets | Total | Property | Assets | Total | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Real estate mortgage | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Real estate construction and land | |||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||
Total | $ | $ | $ | $ | $ | $ |
Three Months Ended | |||||||||||||||||
June 30, 2022 | |||||||||||||||||
Allowance for | Reserve for | Total | |||||||||||||||
Loan and | Unfunded Loan | Allowance for | |||||||||||||||
Lease Losses | Commitments | Credit Losses | |||||||||||||||
(In thousands) | |||||||||||||||||
Balance, beginning of period | $ | $ | $ | ||||||||||||||
Charge-offs | ( | ( | |||||||||||||||
Recoveries | |||||||||||||||||
Net recoveries | |||||||||||||||||
Provision | ( | ||||||||||||||||
Balance, end of period | $ | $ | $ | ||||||||||||||
Six Months Ended | |||||||||||||||||
June 30, 2022 | |||||||||||||||||
Allowance for | Reserve for | Total | |||||||||||||||
Loan and | Unfunded Loan | Allowance for | |||||||||||||||
Lease Losses | Commitments | Credit Losses | |||||||||||||||
(In thousands) | |||||||||||||||||
Balance, beginning of period | $ | $ | $ | ||||||||||||||
Charge-offs | ( | ( | |||||||||||||||
Recoveries | |||||||||||||||||
Net recoveries | |||||||||||||||||
Provision | ( | ||||||||||||||||
Balance, end of period | $ | $ | $ |
Three Months Ended | |||||||||||||||||
June 30, 2021 | |||||||||||||||||
Allowance for | Reserve for | Total | |||||||||||||||
Loan and | Unfunded Loan | Allowance for | |||||||||||||||
Lease Losses | Commitments | Credit Losses | |||||||||||||||
(In thousands) | |||||||||||||||||
Balance, beginning of period | $ | $ | $ | ||||||||||||||
Charge-offs | ( | ( | |||||||||||||||
Recoveries | |||||||||||||||||
Net recoveries | |||||||||||||||||
Provision | ( | ( | ( | ||||||||||||||
Balance, end of period | $ | $ | $ | ||||||||||||||
Six Months Ended | |||||||||||||||||
June 30, 2021 | |||||||||||||||||
Allowance for | Reserve for | Total | |||||||||||||||
Loan and | Unfunded Loan | Allowance for | |||||||||||||||
Lease Losses | Commitments | Credit Losses | |||||||||||||||
(In thousands) | |||||||||||||||||
Balance, beginning of period | $ | $ | $ | ||||||||||||||
Charge-offs | ( | ( | |||||||||||||||
Recoveries | |||||||||||||||||
Net recoveries | |||||||||||||||||
Provision | ( | ( | ( | ||||||||||||||
Balance, end of period | $ | $ | $ |
June 30, | December 31, | ||||||||||
Property Type | 2022 | 2021 | |||||||||
(In thousands) | |||||||||||
Commercial real estate | $ | $ | |||||||||
Multi‑family | |||||||||||
Total other real estate owned, net | |||||||||||
Other foreclosed assets | |||||||||||
Total foreclosed assets, net | $ | $ |
Foreclosed | |||||
Assets, Net | |||||
(In thousands) | |||||
Balance, December 31, 2021 | $ | ||||
Transfers to foreclosed assets from loans | |||||
Reductions related to sales | ( | ||||
Balance, June 30, 2022 | $ |
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Gross Amount of CDI and CRI: | |||||||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | |||||||||||||||||||
Addition from Civic acquisition | |||||||||||||||||||||||
Fully amortized portion | ( | ||||||||||||||||||||||
Balance, end of period | |||||||||||||||||||||||
Accumulated Amortization: | |||||||||||||||||||||||
Balance, beginning of period | ( | ( | ( | ( | |||||||||||||||||||
Amortization expense | ( | ( | ( | ( | |||||||||||||||||||
Fully amortized portion | |||||||||||||||||||||||
Balance, end of period | ( | ( | ( | ( | |||||||||||||||||||
Net CDI and CRI, end of period | $ | $ | $ | $ |
June 30, 2022 | |||||
(In thousands) | |||||
Period ending December 31, | |||||
2022 | $ | ||||
2023 | |||||
2024 | |||||
2025 | |||||
2026 | |||||
Thereafter | |||||
Net CDI and CRI | $ |
June 30, | December 31, | ||||||||||
Other Assets | 2022 | 2021 | |||||||||
(In thousands) | |||||||||||
LIHTC investments | $ | $ | |||||||||
Deferred tax asset, net (1) | |||||||||||
Cash surrender value of BOLI | |||||||||||
Interest receivable | |||||||||||
Operating lease ROU assets, net (2) | |||||||||||
Equity investments without readily determinable fair values | |||||||||||
SBIC investments | |||||||||||
Prepaid expenses | |||||||||||
Taxes receivable | |||||||||||
Equity investments with readily determinable fair values | |||||||||||
Equity warrants (3) | |||||||||||
Other receivables/assets | |||||||||||
Total other assets | $ | $ |
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Operating lease expense: | |||||||||||||||||||||||
Fixed costs | $ | $ | $ | $ | |||||||||||||||||||
Variable costs | |||||||||||||||||||||||
Short-term lease costs | |||||||||||||||||||||||
Sublease income | ( | ( | ( | ( | |||||||||||||||||||
Net lease expense | $ | $ | $ | $ |
Six Months Ended | |||||||||||
June 30, | |||||||||||
2022 | 2021 | ||||||||||
(In thousands) | |||||||||||
Cash paid for amounts included in the measurement of lease liabilities: | |||||||||||
Operating cash flows from operating leases | $ | $ | |||||||||
ROU assets obtained in exchange for lease obligations: | |||||||||||
Operating leases | $ | $ |
June 30, | December 31, | ||||||||||
2022 | 2021 | ||||||||||
(Dollars in thousands) | |||||||||||
Operating leases: | |||||||||||
Operating lease right-of-use assets, net | $ | $ | |||||||||
Operating lease liabilities | $ | $ | |||||||||
Weighted average remaining lease term (in years) | |||||||||||
Weighted average discount rate | % | % |
June 30, 2022 | |||||
(In thousands) | |||||
Period ending December 31, | |||||
2022 | $ | ||||
2023 | |||||
2024 | |||||
2025 | |||||
2026 | |||||
Thereafter | |||||
Total operating lease liabilities | |||||
Less: Imputed interest | ( | ||||
Present value of operating lease liabilities | $ |
June 30, 2022 | |||||
(In thousands) | |||||
Period ending December 31, | |||||
2022 | $ | ||||
2023 | |||||
2024 | |||||
2025 | |||||
2026 | |||||
Thereafter | |||||
Total undiscounted cash flows | $ | ||||
June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||
Weighted | Weighted | ||||||||||||||||||||||
Average | Average | ||||||||||||||||||||||
Balance | Rate | Balance | Rate | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
FHLB secured advances | $ | % | $ | % | |||||||||||||||||||
FHLB unsecured overnight advance | % | % | |||||||||||||||||||||
AFX short-term borrowings | % | % | |||||||||||||||||||||
Total borrowings | $ | % | $ | % |
June 30, 2022 | December 31, 2021 | Date | Maturity | Rate Index | |||||||||||||||||||||||||||||||||||||
Series | Balance | Rate (1) | Balance | Rate (1) | Issued | Date | (Quarterly Reset) (6) | ||||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||||||||
Subordinated notes, net (2) | $ | % | $ | % | 4/30/2021 | 5/1/2031 | Fixed rate (3) | ||||||||||||||||||||||||||||||||||
Trust V | % | % | 8/15/2003 | 9/17/2033 | 3-month LIBOR + | ||||||||||||||||||||||||||||||||||||
Trust VI | % | % | 9/3/2003 | 9/15/2033 | 3-month LIBOR + | ||||||||||||||||||||||||||||||||||||
Trust CII | % | % | 9/17/2003 | 9/17/2033 | 3-month LIBOR + | ||||||||||||||||||||||||||||||||||||
Trust VII | % | % | 2/5/2004 | 4/23/2034 | 3-month LIBOR + | ||||||||||||||||||||||||||||||||||||
Trust CIII | % | % | 8/15/2005 | 9/15/2035 | 3-month LIBOR + | ||||||||||||||||||||||||||||||||||||
Trust FCCI | % | % | 1/25/2007 | 3/15/2037 | 3-month LIBOR + | ||||||||||||||||||||||||||||||||||||
Trust FCBI | % | % | 9/30/2005 | 12/15/2035 | 3-month LIBOR + | ||||||||||||||||||||||||||||||||||||
Trust CS 2005-1 | % | % | 11/21/2005 | 12/15/2035 | 3-month LIBOR + | ||||||||||||||||||||||||||||||||||||
Trust CS 2005-2 | % | % | 12/14/2005 | 1/30/2036 | 3-month LIBOR + | ||||||||||||||||||||||||||||||||||||
Trust CS 2006-1 | % | % | 2/22/2006 | 4/30/2036 | 3-month LIBOR + | ||||||||||||||||||||||||||||||||||||
Trust CS 2006-2 | % | % | 9/27/2006 | 10/30/2036 | 3-month LIBOR + | ||||||||||||||||||||||||||||||||||||
Trust CS 2006-3 (4) | % | % | 9/29/2006 | 10/30/2036 | 3-month EURIBOR + | ||||||||||||||||||||||||||||||||||||
Trust CS 2006-4 | % | % | 12/5/2006 | 1/30/2037 | 3-month LIBOR + | ||||||||||||||||||||||||||||||||||||
Trust CS 2006-5 | % | % | 12/19/2006 | 1/30/2037 | 3-month LIBOR + | ||||||||||||||||||||||||||||||||||||
Trust CS 2007-2 | % | % | 6/13/2007 | 7/30/2037 | 3-month LIBOR + | ||||||||||||||||||||||||||||||||||||
Total subordinated debt | % | % | |||||||||||||||||||||||||||||||||||||||
Acquisition discount (5) | ( | ( | |||||||||||||||||||||||||||||||||||||||
Net subordinated debt | $ | $ |
June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||
Notional | Fair | Notional | Fair | ||||||||||||||||||||
Derivatives Not Designated As Hedging Instruments | Amount | Value | Amount | Value | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Derivative Assets: | |||||||||||||||||||||||
Interest rate contracts | $ | $ | $ | $ | |||||||||||||||||||
Foreign exchange contracts | |||||||||||||||||||||||
Interest rate and economic contracts | |||||||||||||||||||||||
Equity warrant assets | |||||||||||||||||||||||
Total | $ | $ | $ | $ | |||||||||||||||||||
Derivative Liabilities: | |||||||||||||||||||||||
Interest rate contracts | $ | $ | $ | $ | |||||||||||||||||||
Foreign exchange contracts | |||||||||||||||||||||||
Total | $ | $ | $ | $ | |||||||||||||||||||
June 30, | December 31, | ||||||||||
2022 | 2021 | ||||||||||
(In thousands) | |||||||||||
Loan commitments to extend credit | $ | $ | |||||||||
Standby letters of credit | |||||||||||
Total | $ | $ |
June 30, 2022 | |||||
(In thousands) | |||||
Period ending December 31, | |||||
2022 | $ | ||||
2023 | |||||
2024 | |||||
Total | $ |
Fair Value Measurements as of | |||||||||||||||||||||||
June 30, 2022 | |||||||||||||||||||||||
Measured on a Recurring Basis | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||
Agency residential MBS | $ | $ | $ | $ | |||||||||||||||||||
Agency commercial MBS | |||||||||||||||||||||||
Agency residential CMOs | |||||||||||||||||||||||
Municipal securities | |||||||||||||||||||||||
U.S. Treasury securities | |||||||||||||||||||||||
Corporate debt securities | |||||||||||||||||||||||
Collateralized loan obligations | |||||||||||||||||||||||
Private label residential CMOs | |||||||||||||||||||||||
Asset-backed securities | |||||||||||||||||||||||
Private label commercial MBS | |||||||||||||||||||||||
SBA securities | |||||||||||||||||||||||
Total securities available-for-sale | $ | $ | $ | $ | |||||||||||||||||||
Equity investments with readily determinable fair values | $ | $ | $ | $ | |||||||||||||||||||
Derivatives (1): | |||||||||||||||||||||||
Equity warrants | |||||||||||||||||||||||
Interest rate and economic contracts | |||||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||
Fair Value Measurements as of | |||||||||||||||||||||||
December 31, 2021 | |||||||||||||||||||||||
Measured on a Recurring Basis | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||
Agency residential MBS | $ | $ | $ | $ | |||||||||||||||||||
Municipal securities | |||||||||||||||||||||||
Agency commercial MBS | |||||||||||||||||||||||
Agency residential CMOs | |||||||||||||||||||||||
U.S. Treasury securities | |||||||||||||||||||||||
Corporate debt securities | |||||||||||||||||||||||
Private label commercial MBS | |||||||||||||||||||||||
Collateralized loan obligations | |||||||||||||||||||||||
Private label residential CMOs | |||||||||||||||||||||||
Asset-backed securities | |||||||||||||||||||||||
SBA securities | |||||||||||||||||||||||
Total securities available-for-sale | $ | $ | $ | $ | |||||||||||||||||||
Equity investments with readily determinable fair values | $ | $ | $ | $ | |||||||||||||||||||
Derivatives (1): | |||||||||||||||||||||||
Equity warrants | |||||||||||||||||||||||
Interest rate and economic contracts | |||||||||||||||||||||||
Derivative liabilities | |||||||||||||||||||||||
June 30, 2022 | |||||||||||
Equity Warrants | |||||||||||
Weighted | |||||||||||
Range | Average | ||||||||||
Unobservable Inputs | of Inputs | Input (1) | |||||||||
Volatility | |||||||||||
Risk-free interest rate | |||||||||||
Remaining life assumption (in years) |
Private Label | Equity | ||||||||||
Commercial MBS | Warrants | ||||||||||
(In thousands) | |||||||||||
Balance, December 31, 2021 | $ | $ | |||||||||
Total included in earnings | ( | ||||||||||
Total included in other comprehensive income (loss) | ( | ||||||||||
Issuances | |||||||||||
Transfer to Level 2 | ( | ||||||||||
Net settlements | ( | ||||||||||
Exercises and settlements | ( | ||||||||||
Transfers to Level 1 (equity investments with readily determinable fair values) | ( | ||||||||||
Balance, June 30, 2022 | $ | $ | |||||||||
Unrealized net gains (losses) for the period included in other | |||||||||||
comprehensive income for securities held at quarter-end | $ | ||||||||||
Fair Value Measurement as of | |||||||||||||||||||||||
June 30, 2022 | |||||||||||||||||||||||
Measured on a Non-Recurring Basis | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Individually evaluated loans and leases | $ | $ | $ | $ | |||||||||||||||||||
Total non-recurring | $ | $ | $ | $ |
Fair Value Measurement as of | |||||||||||||||||||||||
December 31, 2021 | |||||||||||||||||||||||
Measured on a Non-Recurring Basis | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Individually evaluated loans and leases | $ | $ | $ | $ | |||||||||||||||||||
Total non-recurring | $ | $ | $ | $ |
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
Losses on Assets | June 30, | June 30, | |||||||||||||||||||||
Measured on a Non-Recurring Basis | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Individually evaluated loans and leases | $ | $ | $ | $ | |||||||||||||||||||
OREO | |||||||||||||||||||||||
Total losses | $ | $ | $ | $ |
June 30, 2022 | ||||||||||||||||||||||||||||||||
Valuation | Unobservable | Input or | Weighted | |||||||||||||||||||||||||||||
Asset | Fair Value | Technique | Inputs | Range | Average | |||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||||||
Individually evaluated | ||||||||||||||||||||||||||||||||
loans and leases | $ | Discounted cash flows | Discount rates | |||||||||||||||||||||||||||||
Individually evaluated | ||||||||||||||||||||||||||||||||
loans and leases | Third party appraisals | No discounts | ||||||||||||||||||||||||||||||
Total non-recurring Level 3 | $ |
June 30, 2022 | ||||||||||||||||||||||||||||||||
Carrying | Estimated Fair Value | |||||||||||||||||||||||||||||||
Amount | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Financial Assets: | ||||||||||||||||||||||||||||||||
Cash and due from banks | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Interest-earning deposits in financial institutions | ||||||||||||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||||||||||
Securities held-to-maturity | ||||||||||||||||||||||||||||||||
Investment in FHLB stock | ||||||||||||||||||||||||||||||||
Loans and leases held for investment, net | ||||||||||||||||||||||||||||||||
Equity investments with readily determinable fair values | ||||||||||||||||||||||||||||||||
Equity warrants | ||||||||||||||||||||||||||||||||
Interest rate and economic contracts | ||||||||||||||||||||||||||||||||
Servicing rights | ||||||||||||||||||||||||||||||||
Financial Liabilities: | ||||||||||||||||||||||||||||||||
Core deposits | ||||||||||||||||||||||||||||||||
Non-core non-maturity deposits | ||||||||||||||||||||||||||||||||
Time deposits | ||||||||||||||||||||||||||||||||
Borrowings | ||||||||||||||||||||||||||||||||
Subordinated debt | ||||||||||||||||||||||||||||||||
Derivative liabilities |
December 31, 2021 | |||||||||||||||||||||||||||||
Carrying | Estimated Fair Value | ||||||||||||||||||||||||||||
Amount | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||||||||||
Cash and due from banks | $ | $ | $ | $ | $ | ||||||||||||||||||||||||
Interest-earning deposits in financial institutions | |||||||||||||||||||||||||||||
Securities available-for-sale | |||||||||||||||||||||||||||||
Investment in FHLB stock | |||||||||||||||||||||||||||||
Loans and leases held for investment, net | |||||||||||||||||||||||||||||
Equity investments with readily determinable fair values | |||||||||||||||||||||||||||||
Equity warrants | |||||||||||||||||||||||||||||
Interest rate and economic contracts | |||||||||||||||||||||||||||||
Servicing rights | |||||||||||||||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||||||||||
Core deposits | |||||||||||||||||||||||||||||
Non-core non-maturity deposits | |||||||||||||||||||||||||||||
Time deposits | |||||||||||||||||||||||||||||
Borrowings | |||||||||||||||||||||||||||||
Subordinated debt | |||||||||||||||||||||||||||||
Derivative liabilities |
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
(Dollars in thousands, except per share data) | |||||||||||||||||||||||
Basic Earnings Per Common Share: | |||||||||||||||||||||||
Net earnings | $ | $ | $ | $ | |||||||||||||||||||
Less: Earnings allocated to unvested restricted stock(1) | ( | ( | ( | ( | |||||||||||||||||||
Net earnings allocated to common shares | $ | $ | $ | $ | |||||||||||||||||||
Weighted-average basic shares and unvested restricted | |||||||||||||||||||||||
stock outstanding | |||||||||||||||||||||||
Less: Weighted-average unvested restricted stock | |||||||||||||||||||||||
outstanding | ( | ( | ( | ( | |||||||||||||||||||
Weighted-average basic shares outstanding | |||||||||||||||||||||||
Basic earnings per common share | $ | $ | $ | $ | |||||||||||||||||||
Diluted Earnings Per Common Share: | |||||||||||||||||||||||
Net earnings allocated to common shares | $ | $ | $ | $ | |||||||||||||||||||
Weighted-average diluted shares outstanding | |||||||||||||||||||||||
Diluted earnings per common share | $ | $ | $ | $ |
Three Months Ended June 30, | |||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||
Total | Revenue from | Total | Revenue from | ||||||||||||||||||||
Recorded | Contracts with | Recorded | Contracts with | ||||||||||||||||||||
Revenue | Customers | Revenue | Customers | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Total interest income | $ | $ | $ | $ | |||||||||||||||||||
Noninterest income: | |||||||||||||||||||||||
Service charges on deposit accounts | |||||||||||||||||||||||
Other commissions and fees | |||||||||||||||||||||||
Leased equipment income | |||||||||||||||||||||||
Gain on sale of loans | |||||||||||||||||||||||
Loss on sale of securities | ( | ||||||||||||||||||||||
Dividends and gains on equity securities | |||||||||||||||||||||||
Warrant income | |||||||||||||||||||||||
Other income | |||||||||||||||||||||||
Total noninterest income | |||||||||||||||||||||||
Total revenue | $ | $ | $ | $ |
Three Months Ended | |||||||||||
June 30, | |||||||||||
2022 | 2021 | ||||||||||
(In thousands) | |||||||||||
Products and services transferred at a point in time | $ | $ | |||||||||
Products and services transferred over time | |||||||||||
Total revenue from contracts with customers | $ | $ |
Six Months Ended June 30, | |||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||
Total | Revenue from | Total | Revenue from | ||||||||||||||||||||
Recorded | Contracts with | Recorded | Contracts with | ||||||||||||||||||||
Revenue | Customers | Revenue | Customers | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Total interest income | $ | $ | $ | $ | |||||||||||||||||||
Noninterest income: | |||||||||||||||||||||||
Service charges on deposit accounts | |||||||||||||||||||||||
Other commissions and fees | |||||||||||||||||||||||
Leased equipment income | |||||||||||||||||||||||
Gain on sale of loans | |||||||||||||||||||||||
(Loss) gain on sale of securities | ( | ||||||||||||||||||||||
Dividends and (losses) gains on equity securities | ( | ||||||||||||||||||||||
Warrant income | |||||||||||||||||||||||
Other income | |||||||||||||||||||||||
Total noninterest income | |||||||||||||||||||||||
Total revenue | $ | $ | $ | $ |
Six Months Ended | |||||||||||
June 30, | |||||||||||
2022 | 2021 | ||||||||||
(In thousands) | |||||||||||
Products and services transferred at a point in time | $ | $ | |||||||||
Products and services transferred over time | |||||||||||
Total revenue from contracts with customers | $ | $ |
June 30, 2022 | December 31, 2021 | ||||||||||
(In thousands) | |||||||||||
Receivables, which are included in "Other assets" | $ | $ | |||||||||
Contract liabilities, which are included in "Accrued interest payable and other liabilities" | $ | $ |
Effective | Effect on the Financial Statements | |||||||||||||||||||
Standard | Description | Date | or Other Significant Matters | |||||||||||||||||
ASU 2020-04, "Reference Rate Reform (Topic 848)" and ASU 2021-01, “Reference Rate Reform (Topic 848): Scope)" | This standard provides optional expedients and exceptions for applying GAAP to loan and lease agreements, derivative contracts, and other agreements affected by the anticipated transition away from LIBOR toward new interest reference rates. For agreements that are modified because of reference rate reform and that meet certain scope guidance: (i) modifications of loan agreements should be accounted for by prospectively adjusting the effective interest rate and the modification will be considered “minor” so that any existing unamortized origination fees/costs would carry forward and continue to be amortized and (ii) modifications of lease agreements should be accounted for as a continuation of the existing agreement with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required for modifications not accounted for as separate contracts. Additionally, the amendments in ASU 2021-01 clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. Specifically, certain provisions in Topic 848, if elected by an entity, apply to derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. ASU 2020-04 is effective immediately, as of March 12, 2020, and may be applied prospectively to contract modifications made and hedging relationships entered into on or before December 31, 2022. ASU 2021-01 is also effective immediately. Entities may elect to apply the amendments on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to January 7, 2021 and up to December 31, 2022. | Effective upon the issuance date of March 12, 2020, and once adopted, will apply to contract modifications made and hedging relationships entered into on or before December 31, 2022. | The Company has established a cross-functional project team and implementation plan to facilitate the LIBOR transition. As of December 31, 2021, the Company permanently ceased originating any new loans or entering into any transaction that would increase its LIBOR-based exposure. For all new variable-rate and hybrid loans, the Company primarily offers Prime and SOFR as the variable-rate index, but may consider alternate rates such as the American Interbank Offered Rate (“Ameribor”) and others based on market conditions and/or the type of loan or financial instrument. The Company has completed its readiness efforts to identify loans and other financial instruments that are impacted by the discontinuance of LIBOR. The Company has also completed its review for fallback language contained in contracts for LIBOR-based loans and other financial instruments and has begun to execute a transition plan to amend those legacy contracts maturing after June 30, 2023 that do not have or have inadequate fallback language by adding fallback language or to convert the base rate of the contract to a SOFR-based rate or another rate or index offered by the Company. The Company will also continue to assess impacts to its operations, financial models, data and technology as part of our transition plan. The Company is currently evaluating the impact of this Update on its consolidated financial statements but does not expect it to have a material impact. |
Effective | Effect on the Financial Statements | |||||||||||||||||||
Standard | Description | Date | or Other Significant Matters | |||||||||||||||||
ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers | This standard requires that an entity (acquirer) recognizes and measures contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. At acquisition date, an acquirer should account for the related revenue contracts with customers in accordance with Topic 606 as if it had originated the contracts. The acquirer should consider the terms of the acquired contracts, such as timing of payment, identify each performance obligation in the contracts and allocate the total transaction price to each identified performance obligation on a relative standalone selling price basis as of contract inception or contract modification to determine what should be recorded at the acquisition date. The amendments improve comparability by providing consistent recognition and measurement guidance for revenue contracts with customers whether they are acquired and not acquired in a business combination. The amendments should be applied prospectively to business combinations occurring on or after the effective date. Additionally, early adoption is permitted. | January 1, 2023 | The Company will apply the amendments prospectively to business combinations occurring on or after the effective date. This standard is not expected to have a material impact on the Company’s consolidated financial statements. |
Effective | Effect on the Financial Statements | |||||||||||||||||||
Standard | Description | Date | or Other Significant Matters | |||||||||||||||||
ASU 2022-02, Financial Instruments – Credit Losses (Topic 326) | This standard eliminates the accounting guidance for troubled debt restructurings (TDRs) by creditors, in ASC 310-40, Receivables – Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for restructurings involving borrowers that are experiencing financial difficulty. Additionally, the amendments in this standard eliminate inconsistency in previous guidance by requiring creditors that are public business entities to disclose current-period gross charge-offs by year of origination for financing receivables and net investments in leases, but eliminates the disclosure of gross recoveries by year of origination previously presented in Example 15 in ASC 326-20-50-79. An entity may elect to adopt the amendments on TDRs and related disclosure enhancements separately from the amendments relating to vintage disclosures. The amendments should be applied prospectively except as provided in the next sentence. For amendments related to the recognition and measurement of TDRs, an entity has the option to apply the amendments either prospectively or through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption using the modified retrospective transition method. Additionally, early adoption is permitted. | January 1, 2023 | The Company has elected to adopt the amendments on TDRs and related disclosure enhancements separately from the amendments relating to vintage disclosures, which we early adopted on January 1, 2022. The Company is currently evaluating the impact the TDR amendments will have on its consolidated financial statements and related disclosures upon adoption. |
Effective | Effect on the Financial Statements | |||||||||||||||||||
Standard | Description | Date | or Other Significant Matters | |||||||||||||||||
ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions | This standard clarifies that a contractual sale restriction is not considered in measuring an equity security at fair value. The standard also clarifies that an entity cannot recognize a contractual sale restriction as a separate unit of account, such as a contra-asset or liability. The standard requires new disclosures for all entities with equity securities subject to contractual sales restrictions. Additionally, early adoption is permitted. | January 1, 2024 | The Company does not take into account contractual sale restrictions in determining the fair value of its equity securities. The Company expects that this standard will not have a material impact on its consolidated financial statements. |
Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
June 30, | June 30, | |||||||||||||||||||||||||
Efficiency Ratio | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||
Noninterest expense | $ | 183,645 | $ | 151,750 | $ | 351,071 | $ | 301,886 | ||||||||||||||||||
Less: | Intangible asset amortization | 3,649 | 2,889 | 7,298 | 5,968 | |||||||||||||||||||||
Foreclosed assets income, net | (28) | (119) | (3,381) | (118) | ||||||||||||||||||||||
Acquisition, integration and reorganization costs | — | 200 | — | 3,625 | ||||||||||||||||||||||
Noninterest expense used for efficiency ratio | $ | 180,024 | $ | 148,780 | $ | 347,154 | $ | 292,411 | ||||||||||||||||||
Net interest income (tax equivalent) | $ | 327,801 | $ | 270,083 | $ | 640,452 | $ | 534,718 | ||||||||||||||||||
Noninterest income | 34,346 | 40,371 | 55,164 | 85,200 | ||||||||||||||||||||||
Net revenues | 362,147 | 310,454 | 695,616 | 619,918 | ||||||||||||||||||||||
Less: | (Loss) gain on sale of securities | (1,209) | — | (1,105) | 101 | |||||||||||||||||||||
Net revenues used for efficiency ratio | $ | 363,356 | $ | 310,454 | $ | 696,721 | $ | 619,817 | ||||||||||||||||||
Efficiency ratio | 49.5 | % | 47.9 | % | 49.8 | % | 47.2 | % |
Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
June 30, | June 30, | |||||||||||||||||||||||||
Return on Average Tangible Common Equity | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||
Net earnings | $ | 122,360 | $ | 180,512 | $ | 242,488 | $ | 330,918 | ||||||||||||||||||
Add: | Intangible asset amortization | 3,649 | 2,889 | 7,298 | 5,968 | |||||||||||||||||||||
Adjusted net earnings used for return on average | ||||||||||||||||||||||||||
tangible common equity | $ | 126,009 | $ | 183,401 | $ | 249,786 | $ | 336,886 | ||||||||||||||||||
Average stockholders' equity | $ | 3,652,368 | $ | 3,739,042 | $ | 3,749,386 | $ | 3,678,481 | ||||||||||||||||||
Less: | Average intangible assets | 1,445,333 | 1,224,208 | 1,447,184 | 1,208,581 | |||||||||||||||||||||
Less: | Average preferred stock | 137,100 | — | 68,929 | — | |||||||||||||||||||||
Average tangible common equity | $ | 2,069,935 | $ | 2,514,834 | $ | 2,233,273 | $ | 2,469,900 | ||||||||||||||||||
Return on average equity (1) | 13.44 | % | 19.36 | % | 13.04 | % | 18.14 | % | ||||||||||||||||||
Return on average tangible common equity (2) | 24.42 | % | 29.25 | % | 22.55 | % | 27.51 | % |
Tangible Common Equity Ratio and | June 30, | December 31, | |||||||||
Tangible Book Value Per Common Share | 2022 | 2021 | |||||||||
(Dollars in thousands, except per share data) | |||||||||||
Stockholders’ equity | $ | 3,978,403 | $ | 3,999,630 | |||||||
Less: Preferred stock | 498,516 | — | |||||||||
Total common equity | 3,479,887 | 3,999,630 | |||||||||
Less: Intangible assets | 1,443,395 | 1,450,693 | |||||||||
Tangible common equity | $ | 2,036,492 | $ | 2,548,937 | |||||||
Total assets | $ | 40,950,723 | $ | 40,443,344 | |||||||
Less: Intangible assets | 1,443,395 | 1,450,693 | |||||||||
Tangible assets | $ | 39,507,328 | $ | 38,992,651 | |||||||
Equity to assets ratio | 9.72 | % | 9.89 | % | |||||||
Tangible common equity ratio (1) | 5.15 | % | 6.54 | % | |||||||
Book value per common share | $ | 28.93 | $ | 33.45 | |||||||
Tangible book value per common share (2) | $ | 16.93 | $ | 21.31 | |||||||
Shares outstanding | 120,288,024 | 119,584,854 |
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
(Dollars in thousands, except per share data) | |||||||||||||||||||||||
Earnings Summary: | |||||||||||||||||||||||
Interest income | $ | 350,518 | $ | 280,505 | $ | 673,422 | $ | 553,842 | |||||||||||||||
Interest expense | (26,593) | (14,197) | (40,780) | (26,265) | |||||||||||||||||||
Net interest income | 323,925 | 266,308 | 632,642 | 527,577 | |||||||||||||||||||
Provision for credit losses | (11,500) | 88,000 | (11,500) | 136,000 | |||||||||||||||||||
Noninterest income | 34,346 | 40,371 | 55,164 | 85,200 | |||||||||||||||||||
Noninterest expense | (183,645) | (151,750) | (351,071) | (301,886) | |||||||||||||||||||
Earnings before income taxes | 163,126 | 242,929 | 325,235 | 446,891 | |||||||||||||||||||
Income tax expense | (40,766) | (62,417) | (82,747) | (115,973) | |||||||||||||||||||
Net earnings | $ | 122,360 | $ | 180,512 | $ | 242,488 | $ | 330,918 | |||||||||||||||
Per Common Share Data: | |||||||||||||||||||||||
Diluted earnings per common share | $ | 1.02 | $ | 1.52 | $ | 2.03 | $ | 2.78 | |||||||||||||||
Book value per common share | $ | 28.93 | $ | 32.17 | |||||||||||||||||||
Tangible book value per common share (1) | $ | 16.93 | $ | 21.95 | |||||||||||||||||||
Performance Ratios: | |||||||||||||||||||||||
Return on average assets | 1.23 | % | 2.11 | % | 1.22 | % | 2.03 | % | |||||||||||||||
Return on average tangible common equity (1) | 24.42 | % | 29.25 | % | 22.55 | % | 27.51 | % | |||||||||||||||
Net interest margin (tax equivalent) | 3.56 | % | 3.40 | % | 3.50 | % | 3.53 | % | |||||||||||||||
Yield on average loans and leases (tax equivalent) | 4.65 | % | 5.18 | % | 4.66 | % | 5.19 | % | |||||||||||||||
Cost of average total deposits | 0.18 | % | 0.10 | % | 0.13 | % | 0.11 | % | |||||||||||||||
Efficiency ratio | 49.5 | % | 47.9 | % | 49.8 | % | 47.2 | % | |||||||||||||||
Capital Ratios (consolidated): | |||||||||||||||||||||||
Common equity tier 1 capital ratio | 8.24 | % | 10.41 | % | |||||||||||||||||||
Tier 1 capital ratio | 10.15 | % | 10.41 | % | |||||||||||||||||||
Total capital ratio | 13.12 | % | 14.99 | % | |||||||||||||||||||
Risk-weighted assets | $ | 33,009,455 | $ | 24,274,256 |
Three Months Ended | |||||||||||||||||||||||
June 30, 2022 | June 30, 2021 | ||||||||||||||||||||||
Interest | Yields | Interest | Yields | ||||||||||||||||||||
Average | Income/ | and | Average | Income/ | and | ||||||||||||||||||
Balance | Expense | Rates | Balance | Expense | Rates | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
ASSETS: | |||||||||||||||||||||||
Loans and leases (1)(2)(3) | $ | 25,449,773 | $ | 295,154 | 4.65 | % | $ | 19,057,420 | $ | 246,147 | 5.18 | % | |||||||||||
Investment securities (2)(4) | 9,488,653 | 54,910 | 2.32 | % | 6,492,721 | 36,111 | 2.23 | % | |||||||||||||||
Deposits in financial institutions | 1,984,751 | 4,330 | 0.88 | % | 6,347,764 | 2,022 | 0.13 | % | |||||||||||||||
Total interest‑earning assets (2) | 36,923,177 | 354,394 | 3.85 | % | 31,897,905 | 284,280 | 3.57 | % | |||||||||||||||
Other assets | 3,108,714 | 2,428,207 | |||||||||||||||||||||
Total assets | $ | 40,031,891 | $ | 34,326,112 | |||||||||||||||||||
LIABILITIES AND | |||||||||||||||||||||||
STOCKHOLDERS’ EQUITY: | |||||||||||||||||||||||
Interest checking | $ | 6,517,381 | 3,816 | 0.23 | % | $ | 7,235,726 | 2,394 | 0.13 | % | |||||||||||||
Money market | 10,553,942 | 8,448 | 0.32 | % | 8,484,933 | 3,318 | 0.16 | % | |||||||||||||||
Savings | 650,479 | 41 | 0.03 | % | 598,225 | 36 | 0.02 | % | |||||||||||||||
Time | 1,939,816 | 3,057 | 0.63 | % | 1,498,169 | 1,521 | 0.41 | % | |||||||||||||||
Total interest‑bearing deposits | 19,661,618 | 15,362 | 0.31 | % | 17,817,053 | 7,269 | 0.16 | % | |||||||||||||||
Borrowings | 1,356,616 | 2,441 | 0.72 | % | 225,446 | 265 | 0.47 | % | |||||||||||||||
Subordinated debt | 863,653 | 8,790 | 4.08 | % | 735,725 | 6,663 | 3.63 | % | |||||||||||||||
Total interest‑bearing liabilities | 21,881,887 | 26,593 | 0.49 | % | 18,778,224 | 14,197 | 0.30 | % | |||||||||||||||
Noninterest‑bearing demand deposits | 13,987,398 | 11,304,757 | |||||||||||||||||||||
Other liabilities | 510,238 | 504,089 | |||||||||||||||||||||
Total liabilities | 36,379,523 | 30,587,070 | |||||||||||||||||||||
Stockholders’ equity | 3,652,368 | 3,739,042 | |||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 40,031,891 | $ | 34,326,112 | |||||||||||||||||||
Net interest income (2) | $ | 327,801 | $ | 270,083 | |||||||||||||||||||
Net interest rate spread (2) | 3.36 | % | 3.27 | % | |||||||||||||||||||
Net interest margin (2) | 3.56 | % | 3.40 | % | |||||||||||||||||||
Total deposits (5) | $ | 33,649,016 | $ | 15,362 | 0.18 | % | $ | 29,121,810 | $ | 7,269 | 0.10 | % |
Six Months Ended | |||||||||||||||||||||||
June 30, 2022 | June 30, 2021 | ||||||||||||||||||||||
Interest | Yields | Interest | Yields | ||||||||||||||||||||
Average | Income/ | and | Average | Income/ | and | ||||||||||||||||||
Balance | Expense | Rates | Balance | Expense | Rates | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
ASSETS: | |||||||||||||||||||||||
Loans and leases (1)(2)(3) | $ | 24,446,967 | $ | 564,675 | 4.66 | % | $ | 18,992,727 | $ | 488,993 | 5.19 | % | |||||||||||
Investment securities (2)(4) | 9,940,670 | 110,504 | 2.24 | % | 5,940,995 | 68,440 | 2.32 | % | |||||||||||||||
Deposits in financial institutions | 2,530,921 | 6,053 | 0.48 | % | 5,573,300 | 3,550 | 0.13 | % | |||||||||||||||
Total interest‑earning assets (2) | 36,918,558 | 681,232 | 3.72 | % | 30,507,022 | 560,983 | 3.71 | % | |||||||||||||||
Other assets | 3,039,450 | 2,372,015 | |||||||||||||||||||||
Total assets | $ | 39,958,008 | $ | 32,879,037 | |||||||||||||||||||
LIABILITIES AND | |||||||||||||||||||||||
STOCKHOLDERS’ EQUITY: | |||||||||||||||||||||||
Interest checking | $ | 6,804,407 | 5,592 | 0.17 | % | $ | 6,821,101 | 4,626 | 0.14 | % | |||||||||||||
Money market | 10,702,374 | 11,909 | 0.22 | % | 8,231,870 | 6,596 | 0.16 | % | |||||||||||||||
Savings | 646,615 | 80 | 0.02 | % | 585,662 | 71 | 0.02 | % | |||||||||||||||
Time | 1,611,039 | 3,989 | 0.50 | % | 1,495,731 | 3,476 | 0.47 | % | |||||||||||||||
Total interest‑bearing deposits | 19,764,435 | 21,570 | 0.22 | % | 17,134,364 | 14,769 | 0.17 | % | |||||||||||||||
Borrowings | 830,453 | 2,602 | 0.63 | % | 225,748 | 458 | 0.41 | % | |||||||||||||||
Subordinated debt | 863,613 | 16,608 | 3.88 | % | 601,658 | 11,038 | 3.70 | % | |||||||||||||||
Total interest‑bearing liabilities | 21,458,501 | 40,780 | 0.38 | % | 17,961,770 | 26,265 | 0.29 | % | |||||||||||||||
Noninterest‑bearing demand deposits | 14,224,217 | 10,742,233 | |||||||||||||||||||||
Other liabilities | 525,904 | 496,553 | |||||||||||||||||||||
Total liabilities | 36,208,622 | 29,200,556 | |||||||||||||||||||||
Stockholders’ equity | 3,749,386 | 3,678,481 | |||||||||||||||||||||
Total liabilities and stockholders' equity | $ | 39,958,008 | $ | 32,879,037 | |||||||||||||||||||
Net interest income (2) | $ | 640,452 | $ | 534,718 | |||||||||||||||||||
Net interest rate spread (2) | 3.34 | % | 3.42 | % | |||||||||||||||||||
Net interest margin (2) | 3.50 | % | 3.53 | % | |||||||||||||||||||
Total deposits (5) | $ | 33,988,652 | $ | 21,570 | 0.13 | % | $ | 27,876,597 | $ | 14,769 | 0.11 | % |
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Provision For Credit Losses: | |||||||||||||||||||||||
(Reduction in) addition to allowance for loan and lease losses | $ | (10,000) | $ | (72,000) | $ | (12,000) | $ | (125,000) | |||||||||||||||
Addition to (reduction in) reserve for unfunded | |||||||||||||||||||||||
loan commitments | 20,000 | (16,000) | 22,000 | (11,000) | |||||||||||||||||||
Total loan-related provision | $ | 10,000 | $ | (88,000) | $ | 10,000 | $ | (136,000) | |||||||||||||||
Addition to allowance for | |||||||||||||||||||||||
held-to-maturity securities | 1,500 | — | 1,500 | — | |||||||||||||||||||
Total provision for credit losses | $ | 11,500 | $ | (88,000) | $ | 11,500 | $ | (136,000) | |||||||||||||||
Credit Quality Metrics: | |||||||||||||||||||||||
Net recoveries on loans and leases | |||||||||||||||||||||||
held for investment (1) | $ | (1,307) | $ | (5,155) | $ | (141) | $ | (2,419) | |||||||||||||||
Annualized net recoveries to average loans and leases | (0.02) | % | (0.11) | % | — | % | (0.03) | % | |||||||||||||||
At quarter-end: | |||||||||||||||||||||||
Allowance for credit losses | $ | 283,776 | $ | 300,171 | |||||||||||||||||||
Allowance for credit losses to loans and leases held | |||||||||||||||||||||||
for investment | 1.07 | % | 1.54 | % | |||||||||||||||||||
Allowance for credit losses to nonaccrual loans and leases | |||||||||||||||||||||||
held for investment | 361.4 | % | 528.4 | % | |||||||||||||||||||
Nonaccrual loans and leases held for investment | $ | 78,527 | $ | 56,803 | |||||||||||||||||||
Performing TDRs held for investment | $ | 11,723 | $ | 40,129 | |||||||||||||||||||
Classified loans and leases held for investment | $ | 104,264 | $ | 147,267 | |||||||||||||||||||
Special mention loans and leases held for investment | $ | 480,261 | $ | 536,052 | |||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
Noninterest Income | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Leased equipment income | $ | 12,335 | $ | 10,847 | $ | 25,429 | $ | 22,201 | |||||||||||||||
Other commissions and fees | 10,813 | 10,704 | 22,393 | 19,862 | |||||||||||||||||||
Service charges on deposit accounts | 3,634 | 3,452 | 7,205 | 6,386 | |||||||||||||||||||
Gain on sale of loans and leases | 12 | 1,422 | 72 | 1,561 | |||||||||||||||||||
(Loss) gain on sale of securities | (1,209) | — | (1,105) | 101 | |||||||||||||||||||
Dividends and gains (losses) on equity investments | 4,097 | 5,394 | (7,278) | 16,298 | |||||||||||||||||||
Warrant income | 1,615 | 5,650 | 2,244 | 11,773 | |||||||||||||||||||
Other | 3,049 | 2,902 | 6,204 | 7,018 | |||||||||||||||||||
Total noninterest income | $ | 34,346 | $ | 40,371 | $ | 55,164 | $ | 85,200 |
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
Noninterest Expense | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Compensation | $ | 102,542 | $ | 90,807 | $ | 194,782 | $ | 170,689 | |||||||||||||||
Occupancy | 15,268 | 14,784 | 30,468 | 28,838 | |||||||||||||||||||
Customer related expense | 11,748 | 4,973 | 24,403 | 9,791 | |||||||||||||||||||
Data processing | 9,258 | 7,758 | 18,887 | 14,715 | |||||||||||||||||||
Leased equipment depreciation | 8,934 | 8,614 | |||||||||||||||||||||
Loan expense | 7,037 | 4,031 | 12,194 | 7,224 | |||||||||||||||||||
Other professional services | 6,726 | 5,256 | 12,680 | 10,382 | |||||||||||||||||||
Insurance and assessments | 5,632 | 3,745 | 11,122 | 8,648 | |||||||||||||||||||
Intangible asset amortization | 3,649 | 2,889 | |||||||||||||||||||||
Acquisition, integration and reorganization costs | — | 200 | — | 3,625 | |||||||||||||||||||
Foreclosed assets income, net | (28) | (119) | (3,381) | (118) | |||||||||||||||||||
Other | 12,879 | 8,812 | 24,495 | 24,541 | |||||||||||||||||||
Total noninterest expense | $ | 183,645 | $ | 151,750 | $ | 351,071 | $ | 301,886 |
June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||||||||||||||
Fair | % of | Duration | Fair | % of | Duration | ||||||||||||||||||||||||||||||
Security Type | Value | Total | (in years) | Value | Total | (in years) | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||
Agency residential MBS | $ | 2,577,715 | 38 | % | 7.9 | $ | 2,898,210 | 27 | % | 2.9 | |||||||||||||||||||||||||
Agency commercial MBS | 976,221 | 14 | % | 3.8 | 1,688,967 | 16 | % | 5.2 | |||||||||||||||||||||||||||
Agency residential CMOs | 803,309 | 12 | % | 3.7 | 1,038,134 | 10 | % | 3.2 | |||||||||||||||||||||||||||
Municipal securities | 700,605 | 10 | % | 5.6 | 2,315,968 | 22 | % | 7.7 | |||||||||||||||||||||||||||
U.S. Treasury securities | 696,054 | 10 | % | 5.5 | 966,898 | 9 | % | 6.6 | |||||||||||||||||||||||||||
Corporate debt securities | 369,461 | 6 | % | 3.1 | 527,094 | 5 | % | 4.2 | |||||||||||||||||||||||||||
Collateralized loan obligations | 352,290 | 5 | % | — | 385,362 | 4 | % | 0.1 | |||||||||||||||||||||||||||
Private label residential CMOs | 216,103 | 3 | % | 5.6 | 264,417 | 2 | % | 3.9 | |||||||||||||||||||||||||||
Asset-backed securities | 32,647 | 1 | % | — | 129,547 | 1 | % | 0.1 | |||||||||||||||||||||||||||
Private label commercial MBS | 32,516 | 1 | % | 2.3 | 450,217 | 4 | % | 7.5 | |||||||||||||||||||||||||||
SBA securities | 23,727 | — | % | 2.3 | 29,644 | — | % | 3.7 | |||||||||||||||||||||||||||
Total securities available-for-sale | $ | 6,780,648 | 100 | % | 5.5 | $ | 10,694,458 | 100 | % | 4.8 |
June 30, 2022 | |||||||||||
Fair | % of | ||||||||||
Municipal Securities by State | Value | Total | |||||||||
(Dollars in thousands) | |||||||||||
California | $ | 177,178 | 25 | % | |||||||
Texas | 151,016 | 22 | % | ||||||||
Washington | 113,668 | 16 | % | ||||||||
Oregon | 49,575 | 7 | % | ||||||||
Delaware | 32,693 | 5 | % | ||||||||
New York | 24,360 | 3 | % | ||||||||
Minnesota | 22,082 | 3 | % | ||||||||
Florida | 17,609 | 3 | % | ||||||||
Illinois | 15,114 | 2 | % | ||||||||
Ohio | 13,649 | 2 | % | ||||||||
Total of ten largest states | 616,944 | 88 | % | ||||||||
All other states | 83,661 | 12 | % | ||||||||
Total municipal securities available-for-sale | $ | 700,605 | 100 | % |
June 30, 2022 | |||||||||||||||||
Amortized | % of | Duration | |||||||||||||||
Security Type | Cost | Total | (in years) | ||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Municipal securities | $ | 1,241,664 | 55 | % | 9.3 | ||||||||||||
Agency commercial MBS | 424,274 | 19 | % | 8.1 | |||||||||||||
Private label commercial MBS | 343,545 | 15 | % | 7.6 | |||||||||||||
U.S. Treasury securities | 182,751 | 8 | % | 8.1 | |||||||||||||
Corporate debt securities | 69,633 | 3 | % | 5.0 | |||||||||||||
Total securities held-to-maturity | $ | 2,261,867 | 100 | % | 8.6 |
June 30, 2022 | |||||||||||
Amortized | % of | ||||||||||
Municipal Securities by State | Cost | Total | |||||||||
(Dollars in thousands) | |||||||||||
California | $ | 306,501 | 25 | % | |||||||
Texas | 274,796 | 22 | % | ||||||||
Washington | 190,704 | 15 | % | ||||||||
Oregon | 77,425 | 6 | % | ||||||||
Maryland | 65,100 | 5 | % | ||||||||
Georgia | 55,417 | 5 | % | ||||||||
Colorado | 49,369 | 4 | % | ||||||||
Minnesota | 35,364 | 3 | % | ||||||||
Tennessee | 30,785 | 2 | % | ||||||||
Florida | 21,984 | 2 | % | ||||||||
Total of ten largest states | 1,107,445 | 89 | % | ||||||||
All other states | 134,219 | 11 | % | ||||||||
Total municipal securities held-to-maturity | $ | 1,241,664 | 100 | % |
June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||
% of | % of | ||||||||||||||||||||||
Loan and Lease Portfolio | Balance | Total | Balance | Total | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||
Commercial real estate | $ | 2,498,193 | 10 | % | $ | 2,545,517 | 11 | % | |||||||||||||||
SBA program | 620,910 | 2 | % | 623,579 | 3 | % | |||||||||||||||||
Hotel | 551,412 | 2 | % | 593,203 | 3 | % | |||||||||||||||||
Total commercial real estate mortgage | 3,670,515 | 14 | % | 3,762,299 | 17 | % | |||||||||||||||||
Multi-family | 5,062,422 | 19 | % | 3,916,317 | 17 | % | |||||||||||||||||
Residential mortgage | 2,977,871 | 11 | % | 2,449,693 | 11 | % | |||||||||||||||||
Investor-owned residential | 1,838,838 | 7 | % | 1,050,411 | 4 | % | |||||||||||||||||
Total residential real estate mortgage | 9,879,131 | 37 | % | 7,416,421 | 32 | % | |||||||||||||||||
Total real estate mortgage | 13,549,646 | 51 | % | 11,178,720 | 49 | % | |||||||||||||||||
Real estate construction and land: | |||||||||||||||||||||||
Commercial real estate construction and land | 837,423 | 3 | % | 832,591 | 4 | % | |||||||||||||||||
Residential construction | 2,649,177 | 10 | % | 2,182,091 | 9 | % | |||||||||||||||||
Construction - renovation | 504,439 | 2 | % | 422,445 | 2 | % | |||||||||||||||||
Total residential real estate construction and land | 3,153,616 | 12 | % | 2,604,536 | 11 | % | |||||||||||||||||
Total real estate construction and land (1) | 3,991,039 | 15 | % | 3,437,127 | 15 | % | |||||||||||||||||
Total real estate | 17,540,685 | 66 | % | 14,615,847 | 64 | % | |||||||||||||||||
Commercial: | |||||||||||||||||||||||
Lender finance | 3,181,175 | 12 | % | 2,617,712 | 11 | % | |||||||||||||||||
Equipment finance | 856,133 | 3 | % | 681,266 | 3 | % | |||||||||||||||||
Premium finance | 781,265 | 3 | % | 586,267 | 3 | % | |||||||||||||||||
Other asset-based | 249,539 | 1 | % | 190,232 | 1 | % | |||||||||||||||||
Total asset-based | 5,068,112 | 19 | % | 4,075,477 | 18 | % | |||||||||||||||||
Equity fund loans | 1,618,190 | 6 | % | 1,707,143 | 7 | % | |||||||||||||||||
Venture lending | 561,000 | 2 | % | 613,450 | 3 | % | |||||||||||||||||
Total venture capital | 2,179,190 | 8 | % | 2,320,593 | 10 | % | |||||||||||||||||
Secured business loans | 500,509 | 2 | % | 486,088 | 2 | % | |||||||||||||||||
Paycheck Protection Program | 33,015 | — | % | 156,699 | 1 | % | |||||||||||||||||
Other lending | 695,980 | 3 | % | 829,194 | 3 | % | |||||||||||||||||
Total other commercial | 1,229,504 | 5 | % | 1,471,981 | 6 | % | |||||||||||||||||
Total commercial | 8,476,806 | 32 | % | 7,868,051 | 34 | % | |||||||||||||||||
Consumer | 483,646 | 2 | % | 457,650 | 2 | % | |||||||||||||||||
Total loans and leases held for investment, | |||||||||||||||||||||||
net of deferred fees | $ | 26,501,137 | 100 | % | $ | 22,941,548 | 100 | % | |||||||||||||||
Total unfunded loan commitments | $ | 11,866,437 | $ | 9,006,350 |
June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||
% of | % of | ||||||||||||||||||||||
Real Estate Loans by State | Balance | Total | Balance | Total | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
California | $ | 10,038,405 | 57 | % | $ | 8,916,633 | 61 | % | |||||||||||||||
Florida | 1,067,920 | 6 | % | 556,057 | 4 | % | |||||||||||||||||
Colorado | 830,207 | 5 | % | 721,343 | 5 | % | |||||||||||||||||
Texas | 734,321 | 4 | % | 392,836 | 3 | % | |||||||||||||||||
New York | 652,375 | 4 | % | 675,948 | 5 | % | |||||||||||||||||
Washington | 621,769 | 4 | % | 500,836 | 3 | % | |||||||||||||||||
Nevada | 457,492 | 3 | % | 346,838 | 2 | % | |||||||||||||||||
Arizona | 439,363 | 2 | % | 253,289 | 2 | % | |||||||||||||||||
Oregon | 383,046 | 2 | % | 375,223 | 3 | % | |||||||||||||||||
Georgia | 267,125 | 1 | % | 203,360 | 1 | % | |||||||||||||||||
Total of 10 largest states | 15,492,023 | 88 | % | 12,942,363 | 89 | % | |||||||||||||||||
All other states | 2,048,662 | 12 | % | 1,673,484 | 11 | % | |||||||||||||||||
Total real estate loans held for investment, net of deferred fees | $ | 17,540,685 | 100 | % | $ | 14,615,847 | 100 | % |
Six Months Ended | |||||
Roll Forward of Loans and Leases Held for Investment, Net of Deferred Fees (1) | June 30, 2022 | ||||
(In thousands) | |||||
Balance, beginning of period | $ | 22,941,548 | |||
Additions: | |||||
Production | 5,390,041 | ||||
Disbursements | 3,460,779 | ||||
Total production and disbursements | 8,850,820 | ||||
Reductions: | |||||
Payoffs | (2,796,127) | ||||
Paydowns | (2,447,749) | ||||
Total payoffs and paydowns | (5,243,876) | ||||
Sales | (41,017) | ||||
Transfers to foreclosed assets | (305) | ||||
Charge-offs | (6,033) | ||||
Total reductions | (5,291,231) | ||||
Net increase | 3,559,589 | ||||
Balance, end of period | $ | 26,501,137 | |||
Weighted average rate on production (2) | 4.46 | % |
June 30, | December 31, | ||||||||||
Allowance for Credit Losses Data | 2022 | 2021 | |||||||||
(Dollars in thousands) | |||||||||||
Allowance for loan and lease losses | $ | 188,705 | $ | 200,564 | |||||||
Reserve for unfunded loan commitments | 95,071 | 73,071 | |||||||||
Total allowance for credit losses | $ | 283,776 | $ | 273,635 | |||||||
Allowance for loan and lease losses to loans and leases held for investment | 0.71 | % | 0.87 | % | |||||||
Allowance for credit losses to loans and leases held for investment | 1.07 | % | 1.19 | % | |||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
Allowance for Credit Losses Roll Forward | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Balance, beginning of period | $ | 272,469 | $ | 383,016 | $ | 273,635 | $ | 433,752 | |||||||||||||||
Provision for credit losses: | |||||||||||||||||||||||
Reduction in allowance for loan and lease losses | (10,000) | (72,000) | (12,000) | (125,000) | |||||||||||||||||||
Addition to reserve for unfunded loan commitments | 20,000 | (16,000) | 22,000 | (11,000) | |||||||||||||||||||
Total provision for credit losses | 10,000 | (88,000) | 10,000 | (136,000) | |||||||||||||||||||
Loans and leases charged off: | |||||||||||||||||||||||
Real estate mortgage | (1,538) | (266) | (1,706) | (634) | |||||||||||||||||||
Real estate construction and land | (7) | (75) | (7) | (775) | |||||||||||||||||||
Commercial | (911) | (277) | (3,744) | (2,851) | |||||||||||||||||||
Consumer | (343) | (198) | (576) | (544) | |||||||||||||||||||
Total loans and leases charged off | (2,799) | (816) | (6,033) | (4,804) | |||||||||||||||||||
Recoveries on loans charged off: | |||||||||||||||||||||||
Real estate mortgage | 1,305 | 4,882 | 1,468 | 5,427 | |||||||||||||||||||
Real estate construction and land | — | — | 149 | — | |||||||||||||||||||
Commercial | 2,790 | 1,029 | 4,525 | 1,726 | |||||||||||||||||||
Consumer | 11 | 60 | 32 | 70 | |||||||||||||||||||
Total recoveries on loans charged off | 4,106 | 5,971 | 6,174 | 7,223 | |||||||||||||||||||
Net recoveries | 1,307 | 5,155 | 141 | 2,419 | |||||||||||||||||||
Balance, end of period | $ | 283,776 | $ | 300,171 | $ | 283,776 | $ | 300,171 | |||||||||||||||
Annualized net recoveries to | |||||||||||||||||||||||
average loans and leases | (0.02) | % | (0.11) | % | — | % | (0.03) | % |
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
Allowance for Credit Losses Charge-offs | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||
Commercial real estate | $ | 1,488 | $ | — | $ | 1,488 | $ | — | |||||||||||||||
SBA program | 15 | 211 | 128 | 236 | |||||||||||||||||||
Hotel | — | — | 55 | 343 | |||||||||||||||||||
Total commercial real estate mortgage | 1,503 | 211 | 1,671 | 579 | |||||||||||||||||||
Multi-family | — | 55 | — | 55 | |||||||||||||||||||
Residential mortgage | — | — | — | — | |||||||||||||||||||
Investor-owned residential | 35 | — | 35 | — | |||||||||||||||||||
Total residential real estate mortgage | 35 | 55 | 35 | 55 | |||||||||||||||||||
Total real estate mortgage | 1,538 | 266 | 1,706 | 634 | |||||||||||||||||||
Real estate construction and land: | |||||||||||||||||||||||
Commercial real estate construction and land | — | 75 | — | 775 | |||||||||||||||||||
Residential construction | — | — | — | — | |||||||||||||||||||
Construction - renovation | 7 | — | 7 | — | |||||||||||||||||||
Total residential real estate construction and land | 7 | — | 7 | — | |||||||||||||||||||
Total real estate construction and land | 7 | 75 | 7 | 775 | |||||||||||||||||||
Commercial: | |||||||||||||||||||||||
Lender finance | — | — | — | — | |||||||||||||||||||
Equipment finance | — | — | — | — | |||||||||||||||||||
Premium finance | — | — | — | — | |||||||||||||||||||
Other asset-based | — | — | — | — | |||||||||||||||||||
Total asset-based | — | — | — | — | |||||||||||||||||||
Equity fund loans | — | — | — | — | |||||||||||||||||||
Venture lending | — | — | — | 620 | |||||||||||||||||||
Total venture capital | — | — | — | 620 | |||||||||||||||||||
Secured business loans | — | — | 244 | 47 | |||||||||||||||||||
Paycheck Protection Program | — | — | — | — | |||||||||||||||||||
Other lending | 911 | 277 | 3,500 | 2,184 | |||||||||||||||||||
Total other commercial | 911 | 277 | 3,744 | 2,231 | |||||||||||||||||||
Total commercial | 911 | 277 | 3,744 | 2,851 | |||||||||||||||||||
Consumer | 343 | 198 | 576 | 544 | |||||||||||||||||||
Total charge-offs | $ | 2,799 | $ | 816 | $ | 6,033 | $ | 4,804 |
Three Months Ended | Six Months Ended | ||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||
Allowance for Credit Losses Recoveries | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||
Commercial real estate | $ | 1,200 | $ | 4,860 | $ | 1,200 | $ | 5,384 | |||||||||||||||
SBA program | 21 | 20 | 33 | 37 | |||||||||||||||||||
Hotel | — | — | — | — | |||||||||||||||||||
Total commercial real estate mortgage | 1,221 | 4,880 | 1,233 | 5,421 | |||||||||||||||||||
Multi-family | 4 | — | 4 | — | |||||||||||||||||||
Residential mortgage | 80 | 2 | 231 | 6 | |||||||||||||||||||
Investor-owned residential | — | — | — | — | |||||||||||||||||||
Total residential real estate mortgage | 84 | 2 | 235 | 6 | |||||||||||||||||||
Total real estate mortgage | 1,305 | 4,882 | 1,468 | 5,427 | |||||||||||||||||||
Real estate construction and land: | |||||||||||||||||||||||
Commercial real estate construction and land | — | — | 149 | — | |||||||||||||||||||
Residential construction | — | — | — | — | |||||||||||||||||||
Construction - renovation | — | — | — | — | |||||||||||||||||||
Total residential real estate construction and land | — | — | — | — | |||||||||||||||||||
Total real estate construction and land | — | — | 149 | — | |||||||||||||||||||
Commercial: | |||||||||||||||||||||||
Lender finance | — | — | — | — | |||||||||||||||||||
Equipment finance | — | 7 | 163 | 114 | |||||||||||||||||||
Premium finance | — | — | — | — | |||||||||||||||||||
Other asset-based | 13 | 98 | 105 | 259 | |||||||||||||||||||
Total asset-based | 13 | 105 | 268 | 373 | |||||||||||||||||||
Equity fund loans | — | — | — | — | |||||||||||||||||||
Venture lending | 50 | 44 | 172 | 101 | |||||||||||||||||||
Total venture capital | 50 | 44 | 172 | 101 | |||||||||||||||||||
Secured business loans | 66 | 73 | 96 | 199 | |||||||||||||||||||
Paycheck Protection Program | — | — | — | — | |||||||||||||||||||
Other lending | 2,661 | 807 | 3,989 | 1,053 | |||||||||||||||||||
Total other commercial | 2,727 | 880 | 4,085 | 1,252 | |||||||||||||||||||
Total commercial | 2,790 | 1,029 | 4,525 | 1,726 | |||||||||||||||||||
Consumer | 11 | 60 | 32 | 70 | |||||||||||||||||||
Total recoveries | $ | 4,106 | $ | 5,971 | $ | 6,174 | $ | 7,223 |
June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||
% of | % of | ||||||||||||||||||||||
Deposit Composition | Balance | Total | Balance | Total | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Noninterest-bearing demand | $ | 13,338,029 | 39 | % | $ | 14,543,133 | 41 | % | |||||||||||||||
Interest checking | 6,197,234 | 18 | % | 7,319,898 | 21 | % | |||||||||||||||||
Money market | 9,029,433 | 27 | % | 10,241,265 | 29 | % | |||||||||||||||||
Savings | 653,950 | 2 | % | 630,653 | 2 | % | |||||||||||||||||
Total core deposits | 29,218,646 | 86 | % | 32,734,949 | 93 | % | |||||||||||||||||
Non-core non-maturity deposits | 2,185,248 | 6 | % | 889,976 | 3 | % | |||||||||||||||||
Total non-maturity deposits | 31,403,894 | 92 | % | 33,624,925 | 96 | % | |||||||||||||||||
Time deposits $250,000 and under | 1,898,312 | 6 | % | 885,938 | 3 | % | |||||||||||||||||
Time deposits over $250,000 | 665,946 | 2 | % | 486,894 | 1 | % | |||||||||||||||||
Total time deposits | 2,564,258 | 8 | % | 1,372,832 | 4 | % | |||||||||||||||||
Total deposits | $ | 33,968,152 | 100 | % | $ | 34,997,757 | 100 | % |
Time Deposits | |||||||||||||||||
$250,000 | Over | ||||||||||||||||
June 30, 2022 | and Under | $250,000 | Total | ||||||||||||||
(In thousands) | |||||||||||||||||
Maturities: | |||||||||||||||||
Due in three months or less | $ | 660,275 | $ | 155,271 | $ | 815,546 | |||||||||||
Due in over three months through six months | 510,290 | 343,582 | 853,872 | ||||||||||||||
Due in over six months through twelve months | 548,714 | 80,595 | 629,309 | ||||||||||||||
Total due within twelve months | 1,719,279 | 579,448 | 2,298,727 | ||||||||||||||
Due in over 12 months through 24 months | 96,484 | 84,012 | 180,496 | ||||||||||||||
Due in over 24 months | 82,549 | 2,486 | 85,035 | ||||||||||||||
Total due over twelve months | 179,033 | 86,498 | 265,531 | ||||||||||||||
Total | $ | 1,898,312 | $ | 665,946 | $ | 2,564,258 |
June 30, | December 31, | ||||||||||
2022 | 2021 | ||||||||||
(Dollars in thousands) | |||||||||||
Nonaccrual loans and leases held for investment | $ | 78,527 | $ | 61,174 | |||||||
Foreclosed assets, net | — | 12,843 | |||||||||
Total nonperforming assets | $ | 78,527 | $ | 74,017 | |||||||
Performing TDRs held for investment | $ | 11,723 | $ | 24,430 | |||||||
Classified loans and leases held for investment | $ | 104,264 | $ | 116,104 | |||||||
Special mention loans and leases held for investment | $ | 480,261 | $ | 391,611 | |||||||
Nonaccrual loans and leases held for investment to loans and leases held for investment | 0.30 | % | 0.27 | % | |||||||
Nonperforming assets to loans and leases held for investment and foreclosed assets, net | 0.30 | % | 0.32 | % | |||||||
Allowance for credit losses to nonaccrual loans and leases held for investment | 361.4 | % | 447.3 | % | |||||||
Classified loans and leases held for investment to loans and leases held for investment | 0.39 | % | 0.51 | % | |||||||
Special mention loans and leases held for investment to loans and leases held for investment | 1.81 | % | 1.71 | % |
June 30, 2022 | December 31, 2021 | Increase (Decrease) | |||||||||||||||||||||||||||||||||
Accruing | Accruing | Accruing | |||||||||||||||||||||||||||||||||
and 30-89 | and 30-89 | and 30-89 | |||||||||||||||||||||||||||||||||
Days Past | Days Past | Days Past | |||||||||||||||||||||||||||||||||
Nonaccrual | Due | Nonaccrual | Due | Nonaccrual | Due | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||||||||||||||
Commercial | $ | 28,529 | $ | 14 | $ | 27,540 | $ | 2,165 | $ | 989 | $ | (2,151) | |||||||||||||||||||||||
Residential | 27,524 | 13,577 | 12,292 | 39,929 | 15,232 | (26,352) | |||||||||||||||||||||||||||||
Total real estate mortgage | 56,053 | 13,591 | 39,832 | 42,094 | 16,221 | (28,503) | |||||||||||||||||||||||||||||
Real estate construction and land: | |||||||||||||||||||||||||||||||||||
Commercial | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Residential | 13,287 | 25,981 | 4,715 | 5,031 | 8,572 | 20,950 | |||||||||||||||||||||||||||||
Total real estate construction and land | 13,287 | 25,981 | 4,715 | 5,031 | 8,572 | 20,950 | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||
Asset-based | 1,189 | — | 1,464 | — | (275) | — | |||||||||||||||||||||||||||||
Venture capital | 3,120 | — | 2,799 | — | 321 | — | |||||||||||||||||||||||||||||
Other commercial | 4,655 | 9,503 | 11,950 | 630 | (7,295) | 8,873 | |||||||||||||||||||||||||||||
Total commercial | 8,964 | 9,503 | 16,213 | 630 | (7,249) | 8,873 | |||||||||||||||||||||||||||||
Consumer | 223 | 1,711 | 414 | 1,004 | (191) | 707 | |||||||||||||||||||||||||||||
Total held for investment | $ | 78,527 | $ | 50,786 | $ | 61,174 | $ | 48,759 | $ | 17,353 | $ | 2,027 | |||||||||||||||||||||||
June 30, | December 31, | ||||||||||
Property Type | 2022 | 2021 | |||||||||
(In thousands) | |||||||||||
Commercial real estate | $ | — | $ | 12,594 | |||||||
Multi-family | — | — | |||||||||
Total OREO, net | — | 12,594 | |||||||||
Other foreclosed assets | — | 249 | |||||||||
Total foreclosed assets, net | $ | — | $ | 12,843 |
June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||
Number | Number | ||||||||||||||||||||||
of | of | ||||||||||||||||||||||
Performing TDRs | Balance | Loans | Balance | Loans | |||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Real estate mortgage | $ | 6,054 | 18 | $ | 6,204 | 18 | |||||||||||||||||
Real estate construction and land | 1,412 | 1 | 1,428 | 1 | |||||||||||||||||||
Commercial | 4,233 | 21 | 16,773 | 24 | |||||||||||||||||||
Consumer | 24 | 1 | 25 | 1 | |||||||||||||||||||
Total performing TDRs held for investment | $ | 11,723 | 41 | $ | 24,430 | 44 | |||||||||||||||||
June 30, | December 31, | ||||||||||
Loan and Lease Credit Risk Ratings | 2022 | 2021 | |||||||||
(In thousands) | |||||||||||
Pass | $ | 25,916,612 | $ | 22,433,833 | |||||||
Special mention | 480,261 | 391,611 | |||||||||
Classified | 104,264 | 116,104 | |||||||||
Total loans and leases held for investment, net of deferred fees | $ | 26,501,137 | $ | 22,941,548 | |||||||
June 30, 2022 | December 31, 2021 | Increase (Decrease) | |||||||||||||||||||||||||||||||||
Special | Special | Special | |||||||||||||||||||||||||||||||||
Classified | Mention | Classified | Mention | Classified | Mention | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||||||||||||||
Commercial | $ | 46,203 | $ | 157,476 | $ | 62,206 | $ | 191,809 | $ | (16,003) | $ | (34,333) | |||||||||||||||||||||||
Residential | 32,443 | 19,248 | 17,700 | 19,848 | 14,743 | (600) | |||||||||||||||||||||||||||||
Total real estate mortgage | 78,646 | 176,724 | 79,906 | 211,657 | (1,260) | (34,933) | |||||||||||||||||||||||||||||
Real estate construction and land: | |||||||||||||||||||||||||||||||||||
Commercial | — | 155,745 | — | 67,727 | — | 88,018 | |||||||||||||||||||||||||||||
Residential | 13,287 | 39,357 | 4,715 | 1,720 | 8,572 | 37,637 | |||||||||||||||||||||||||||||
Total real estate construction and land | 13,287 | 195,102 | 4,715 | 69,447 | 8,572 | 125,655 | |||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||
Asset-based | 1,189 | 54,131 | 4,591 | 78,305 | (3,402) | (24,174) | |||||||||||||||||||||||||||||
Venture capital | 3,116 | 37,831 | 4,794 | 14,833 | (1,678) | 22,998 | |||||||||||||||||||||||||||||
Other commercial | 7,727 | 11,081 | 21,659 | 15,528 | (13,932) | (4,447) | |||||||||||||||||||||||||||||
Total commercial | 12,032 | 103,043 | 31,044 | 108,666 | (19,012) | (5,623) | |||||||||||||||||||||||||||||
Consumer | 299 | 5,392 | 439 | 1,841 | (140) | 3,551 | |||||||||||||||||||||||||||||
Total | $ | 104,264 | $ | 480,261 | $ | 116,104 | $ | 391,611 | $ | (11,840) | $ | 88,650 |
Minimum Required | |||||||||||||||||||||||
For Capital | For Capital | For Well | |||||||||||||||||||||
Adequacy | Conservation | Capitalized | |||||||||||||||||||||
Actual | Purposes | Buffer | Classification | ||||||||||||||||||||
June 30, 2022 | |||||||||||||||||||||||
PacWest Bancorp Consolidated | |||||||||||||||||||||||
Tier 1 leverage capital ratio | 8.52% | 4.00% | N/A | N/A | |||||||||||||||||||
CET1 capital ratio | 8.24% | 4.50% | 7.00% | N/A | |||||||||||||||||||
Tier 1 capital ratio | 10.15% | 6.00% | 8.50% | N/A | |||||||||||||||||||
Total capital ratio | 13.12% | 8.00% | 10.50% | N/A | |||||||||||||||||||
Pacific Western Bank | |||||||||||||||||||||||
Tier 1 leverage capital ratio | 8.21% | 4.00% | N/A | 5.00% | |||||||||||||||||||
CET1 capital ratio | 9.78% | 4.50% | 7.00% | 6.50% | |||||||||||||||||||
Tier 1 capital ratio | 9.78% | 6.00% | 8.50% | 8.00% | |||||||||||||||||||
Total capital ratio | 11.77% | 8.00% | 10.50% | 10.00% |
Minimum Required | |||||||||||||||||||||||
For Capital | For Capital | For Well | |||||||||||||||||||||
Adequacy | Conservation | Capitalized | |||||||||||||||||||||
Actual | Purposes | Buffer | Classification | ||||||||||||||||||||
December 31, 2021 | |||||||||||||||||||||||
PacWest Bancorp Consolidated | |||||||||||||||||||||||
Tier 1 leverage capital ratio | 6.84% | 4.00% | N/A | N/A | |||||||||||||||||||
CET1 capital ratio | 8.86% | 4.50% | 7.00% | N/A | |||||||||||||||||||
Tier 1 capital ratio | 9.32% | 6.00% | 8.50% | N/A | |||||||||||||||||||
Total capital ratio | 12.69% | 8.00% | 10.50% | N/A | |||||||||||||||||||
Pacific Western Bank | |||||||||||||||||||||||
Tier 1 leverage capital ratio | 7.00% | 4.00% | N/A | 5.00% | |||||||||||||||||||
CET1 capital ratio | 9.56% | 4.50% | 7.00% | 6.50% | |||||||||||||||||||
Tier 1 capital ratio | 9.56% | 6.00% | 8.50% | 8.00% | |||||||||||||||||||
Total capital ratio | 11.80% | 8.00% | 10.50% | 10.00% |
June 30, | December 31, | ||||||||||
Primary Liquidity - On-Balance Sheet | 2022 | 2021 | |||||||||
(Dollars in thousands) | |||||||||||
Cash and due from banks | $ | 197,027 | $ | 112,548 | |||||||
Interest-earning deposits in financial institutions | 2,192,877 | 3,944,686 | |||||||||
Securities available-for-sale, at fair value | 6,780,648 | 10,694,458 | |||||||||
Securities held-to-maturity, at fair value | 2,209,759 | — | |||||||||
Less: pledged securities, available-for-sale, at fair value | (2,164,676) | (532,418) | |||||||||
Less: pledged securities, held-to-maturity, at fair value | (619,449) | — | |||||||||
Total primary liquidity | $ | 8,596,186 | $ | 14,219,274 | |||||||
Ratio of primary liquidity to total deposits | 25.3 | % | 40.6 | % |
Secondary Liquidity - Off-Balance Sheet | June 30, | December 31, | |||||||||
Available Secured Borrowing Capacity | 2022 | 2021 | |||||||||
(In thousands) | |||||||||||
Total secured borrowing capacity with the FHLB | $ | 5,412,953 | $ | 3,976,465 | |||||||
Less: secured advances outstanding | (1,230,000) | — | |||||||||
Available secured borrowing capacity with the FHLB | 4,182,953 | 3,976,465 | |||||||||
Available secured borrowing capacity with the FRBSF | 2,425,786 | 1,380,191 | |||||||||
Total secondary liquidity | $ | 6,608,739 | $ | 5,356,656 |
Forecasted | Forecasted | Forecasted | |||||||||||||||||||||
Net Interest | Percentage | Net Interest | Net Interest | ||||||||||||||||||||
Income | Change | Margin | Margin Change | ||||||||||||||||||||
June 30, 2022 | (Tax Equivalent) | From Base | (Tax Equivalent) | From Base | |||||||||||||||||||
(Dollars in millions) | |||||||||||||||||||||||
Interest Rate Scenario: | |||||||||||||||||||||||
Up 300 basis points | $ | 1,570.8 | 12.9% | 4.07% | 0.46% | ||||||||||||||||||
Up 200 basis points | $ | 1,508.9 | 8.5% | 3.91% | 0.30% | ||||||||||||||||||
Up 100 basis points | $ | 1,449.6 | 4.2% | 3.76% | 0.15% | ||||||||||||||||||
BASE CASE | $ | 1,390.8 | — | 3.61% | |||||||||||||||||||
Down 25 basis points | $ | 1,389.9 | (0.1)% | 3.58% | (0.03)% | ||||||||||||||||||
Down 50 basis points | $ | 1,377.4 | (1.0)% | 3.57% | (0.04)% | ||||||||||||||||||
Down 100 basis points | $ | 1,380.3 | (0.8)% | 3.58% | (0.03)% | ||||||||||||||||||
June 30, 2022 | ||||||||
Variable Rate | ||||||||
Loans At or Below | ||||||||
Their Floors That | ||||||||
Basis Points of | Will Reprice As | |||||||
Rate Increases | Rates Increase | |||||||
(In millions) | ||||||||
50 bps | $ | 955 | ||||||
100 bps | 641 | |||||||
150 bps | 279 | |||||||
200 bps | 9 | |||||||
250 bps | 23 | |||||||
300 bps | — | |||||||
400 bps | 1 | |||||||
Total | $ | 1,908 |
Ratio of | |||||||||||||||||||||||||||||
Projected | Dollar | Percentage | Percentage | Projected | |||||||||||||||||||||||||
Market Value | Change | Change | of Total | Market Value | |||||||||||||||||||||||||
June 30, 2022 | of Equity | From Base | From Base | Assets | to Book Value | ||||||||||||||||||||||||
(Dollars in millions) | |||||||||||||||||||||||||||||
Interest Rate Scenario: | |||||||||||||||||||||||||||||
Up 300 basis points | $ | 8,821.9 | $ | 331.3 | 3.9 | % | 21.5 | % | 221.7 | % | |||||||||||||||||||
Up 200 basis points | $ | 8,776.0 | $ | 285.4 | 3.4 | % | 21.4 | % | 220.6 | % | |||||||||||||||||||
Up 100 basis points | $ | 8,660.9 | $ | 170.4 | 2.0 | % | 21.1 | % | 217.7 | % | |||||||||||||||||||
BASE CASE | $ | 8,490.5 | $ | — | — | % | 20.7 | % | 213.4 | % | |||||||||||||||||||
Down 50 basis points | $ | 8,394.3 | $ | (96.2) | (1.1) | % | 20.5 | % | 211.0 | % | |||||||||||||||||||
Down 100 basis points | $ | 8,298.0 | $ | (192.5) | (2.3) | % | 20.3 | % | 208.6 | % |
Total Number of | Maximum Dollar | ||||||||||||||||||||||
Shares Purchased | Value of Shares | ||||||||||||||||||||||
Total | as Part of | That May Yet | |||||||||||||||||||||
Number of | Average | Publicly | Be Purchased | ||||||||||||||||||||
Shares | Price Paid | Announced | Under the | ||||||||||||||||||||
Purchase Dates | Purchased (1) | Per Share | Program (2) | Program (2) | |||||||||||||||||||
(Dollars in thousands, except per share amounts) | |||||||||||||||||||||||
April 1 - April 30, 2022 | — | $ | — | — | $ | 100,000 | |||||||||||||||||
May 1 - May 31, 2022 | 134,852 | $ | 31.58 | — | $ | 100,000 | |||||||||||||||||
June 1 - June 30, 2022 | 1,148 | $ | 26.66 | — | $ | 100,000 | |||||||||||||||||
Total | 136,000 | $ | 31.54 | — |
Exhibit Number | Description | ||||
3.1 | |||||
4.1 | |||||
4.2 | |||||
31.1 | |||||
31.2 | |||||
32.1 | |||||
32.2 |
PACWEST BANCORP | ||||||||
Date: | August 8, 2022 | /s/ Bart R. Olson | ||||||
Bart R. Olson | ||||||||
Chief Financial Officer and Principal Financial Officer |
Date: | August 8, 2022 | /s/ Matthew P. Wagner | ||||||
Matthew P. Wagner Chief Executive Officer |
Date: | August 8, 2022 | /s/ Bart R. Olson | ||||||
Bart R. Olson Executive Vice President and Chief Financial Officer |
Date: | August 8, 2022 | /s/ Matthew P. Wagner | ||||||
Matthew P. Wagner Chief Executive Officer |
Date: | August 8, 2022 | /s/ Bart R. Olson | ||||||
Bart R. Olson Executive Vice President and Chief Financial Officer |
Condensed Consolidated Statements of Earnings - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Interest income: | ||||
Loans and leases | $ 293,286 | $ 244,529 | $ 561,045 | $ 486,073 |
Investment securities | 52,902 | 33,954 | 106,324 | 64,219 |
Deposits in financial institutions | 4,330 | 2,022 | 6,053 | 3,550 |
Total interest income | 350,518 | 280,505 | 673,422 | 553,842 |
Interest expense: | ||||
Deposits | 15,362 | 7,269 | 21,570 | 14,769 |
Borrowings | 2,441 | 265 | 2,602 | 458 |
Subordinated debt | 8,790 | 6,663 | 16,608 | 11,038 |
Total interest expense | 26,593 | 14,197 | 40,780 | 26,265 |
Net interest income | 323,925 | 266,308 | 632,642 | 527,577 |
Provision for credit losses | 11,500 | (88,000) | 11,500 | (136,000) |
Net interest income after provision for credit losses | 312,425 | 354,308 | 621,142 | 663,577 |
Noninterest income: | ||||
Leased equipment income | 12,335 | 10,847 | 25,429 | 22,201 |
Other commissions and fees | 10,813 | 10,704 | 22,393 | 19,862 |
Service charges on deposit accounts | 3,634 | 3,452 | 7,205 | 6,386 |
Gain on sale of loans and leases | 12 | 1,422 | 72 | 1,561 |
(Loss) gain on sale of securities | (1,209) | 0 | (1,105) | 101 |
Dividends and gains (losses) on equity investments | 4,097 | 5,394 | (7,278) | 16,298 |
Warrant income | 1,615 | 5,650 | 2,244 | 11,773 |
Other income | 3,049 | 2,902 | 6,204 | 7,018 |
Total noninterest income | 34,346 | 40,371 | 55,164 | 85,200 |
Noninterest expense: | ||||
Compensation | 102,542 | 90,807 | 194,782 | 170,689 |
Occupancy | 15,268 | 14,784 | 30,468 | 28,838 |
Leased equipment depreciation | 8,934 | 8,614 | 18,123 | 17,583 |
Data processing | 9,258 | 7,758 | 18,887 | 14,715 |
Other professional services | 6,726 | 5,256 | 12,680 | 10,382 |
Insurance and assessments | 5,632 | 3,745 | 11,122 | 8,648 |
Customer related expense | 11,748 | 4,973 | 24,403 | 9,791 |
Loan expense | 7,037 | 4,031 | 12,194 | 7,224 |
Intangible asset amortization | 3,649 | 2,889 | 7,298 | 5,968 |
Acquisition, integration and reorganization costs | 0 | 200 | 0 | 3,625 |
Foreclosed assets income, net | (28) | (119) | (3,381) | (118) |
Other expense | 12,879 | 8,812 | 24,495 | 24,541 |
Total noninterest expense | 183,645 | 151,750 | 351,071 | 301,886 |
Earnings before income taxes | 163,126 | 242,929 | 325,235 | 446,891 |
Income tax expense | (40,766) | (62,417) | (82,747) | (115,973) |
Net earnings | $ 122,360 | $ 180,512 | $ 242,488 | $ 330,918 |
Earnings per common share: | ||||
Basic (usd per share) | $ 1.02 | $ 1.52 | $ 2.03 | $ 2.78 |
Diluted (usd per share) | $ 1.02 | $ 1.52 | $ 2.03 | $ 2.78 |
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|||
Statement of Comprehensive Income [Abstract] | ||||||
Net earnings | $ 122,360 | $ 180,512 | $ 242,488 | $ 330,918 | ||
Other comprehensive income (loss), net of tax: | ||||||
Unrealized net holding gains (losses) on securities available-for-sale arising during the period | (72,572) | 54,076 | (682,398) | (37,447) | ||
Income tax (expense) benefit related to unrealized holding gains (losses) arising during the period | 19,928 | (14,941) | 187,386 | 10,513 | ||
Unrealized net holding gains (losses) on securities available-for-sale, net of tax | (52,644) | 39,135 | (495,012) | (26,934) | ||
Reclassification adjustment for net (gains) losses included in net earnings | [1] | 1,209 | 0 | 1,105 | (101) | |
Income tax expense (benefit) related to reclassification adjustment | (332) | 0 | (303) | 28 | ||
Reclassification adjustment for net (gains) losses included in net earnings, net of tax | 877 | 0 | 802 | (73) | ||
Amortization of Unrealized Net Loss on Securities Transferred From Available-For-Sale to Held-to-Maturity, net of tax | (218,326) | 0 | (218,326) | 0 | ||
OCI, Debt Securities, Available-for-Sale, Transfer to Held-to-Maturity, Adjustment from AOCI for Amortization of Gain (Loss), before Tax1 | (2,507) | 0 | (2,507) | 0 | ||
Debt Securities, Held-to-maturity, Transfer, Unrealized Gain (Loss) | (689) | 0 | (689) | 0 | ||
Amortization of Unrealized Net Loss on Securities Transferred From Available-For-Sale to Held-to-Maturity, net of tax | 1,818 | 0 | 1,818 | 0 | ||
Other comprehensive income (loss), net of tax | (268,275) | 39,135 | (710,718) | (27,007) | ||
Comprehensive income (loss) | $ (145,915) | $ 219,647 | $ (468,230) | $ 303,911 | ||
|
Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) |
Total |
Common Stock |
Additional Paid-in Capital |
Retained Earnings |
Treasury Stock |
Accumulated Other Comprehensive Income (Loss) |
Preferred Stock |
---|---|---|---|---|---|---|---|
Dividends declared per share (usd per share) | $ 0.25 | ||||||
Beginning Period Balance at Dec. 31, 2020 | $ 3,594,951,000 | $ 1,207,000 | $ 3,100,633,000 | $ 409,391,000 | $ (88,803,000) | $ 172,523,000 | |
Shares outstanding, beginning balance (shares) at Dec. 31, 2020 | 118,414,853 | ||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||
Net earnings | 150,406,000 | 150,406,000 | |||||
Other comprehensive loss, net of tax | (66,142,000) | (66,142,000) | |||||
Restricted stock awarded and earned compensation, net of shares forfeited (shares) | 743,444 | ||||||
Restricted stock awarded and earned stock compensation, net of shares forfeited | 6,417,000 | $ 8,000 | 6,409,000 | ||||
Restricted stock surrendered (shares) | (52,655) | ||||||
Restricted stock surrendered | (1,908,000) | (1,908,000) | |||||
Cash dividends paid | (29,587,000) | (29,587,000) | |||||
Shares outstanding, ending balance (shares) at Mar. 31, 2021 | 119,105,642 | ||||||
Ending Period Balance at Mar. 31, 2021 | 3,654,137,000 | $ 1,215,000 | 3,077,455,000 | 559,797,000 | (90,711,000) | 106,381,000 | |
Beginning Period Balance at Dec. 31, 2020 | 3,594,951,000 | $ 1,207,000 | 3,100,633,000 | 409,391,000 | (88,803,000) | 172,523,000 | |
Shares outstanding, beginning balance (shares) at Dec. 31, 2020 | 118,414,853 | ||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||
Net earnings | 330,918,000 | ||||||
Shares outstanding, ending balance (shares) at Jun. 30, 2021 | 119,555,102 | ||||||
Ending Period Balance at Jun. 30, 2021 | 3,846,681,000 | $ 1,221,000 | 3,056,522,000 | 740,309,000 | (96,887,000) | 145,516,000 | |
Beginning Period Balance at Mar. 31, 2021 | 3,654,137,000 | $ 1,215,000 | 3,077,455,000 | 559,797,000 | (90,711,000) | 106,381,000 | |
Shares outstanding, beginning balance (shares) at Mar. 31, 2021 | 119,105,642 | ||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||
Net earnings | 180,512,000 | 180,512,000 | |||||
Other comprehensive loss, net of tax | 39,135,000 | 39,135,000 | |||||
Restricted stock awarded and earned compensation, net of shares forfeited (shares) | 586,271 | ||||||
Restricted stock awarded and earned stock compensation, net of shares forfeited | 8,989,000 | $ 6,000 | 8,983,000 | ||||
Restricted stock surrendered (shares) | (136,811) | ||||||
Restricted stock surrendered | (6,176,000) | (6,176,000) | |||||
Cash dividends paid | (29,916,000) | (29,916,000) | |||||
Shares outstanding, ending balance (shares) at Jun. 30, 2021 | 119,555,102 | ||||||
Ending Period Balance at Jun. 30, 2021 | $ 3,846,681,000 | $ 1,221,000 | 3,056,522,000 | 740,309,000 | (96,887,000) | 145,516,000 | |
Dividends declared per share (usd per share) | $ 0.25 | ||||||
Beginning Period Balance at Dec. 31, 2021 | $ 3,999,630,000 | $ 1,221,000 | 3,013,399,000 | 1,016,350,000 | (97,308,000) | 65,968,000 | $ 0 |
Shares outstanding, beginning balance (shares) at Dec. 31, 2021 | 119,584,854 | ||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||
Net earnings | 120,128,000 | 120,128,000 | |||||
Other comprehensive loss, net of tax | (442,443,000) | (442,443,000) | |||||
Restricted stock awarded and earned compensation, net of shares forfeited (shares) | 109,466 | ||||||
Restricted stock awarded and earned stock compensation, net of shares forfeited | 7,557,000 | $ 1,000 | 7,556,000 | ||||
Restricted stock surrendered (shares) | (92,554) | ||||||
Restricted stock surrendered | (4,481,000) | (4,481,000) | |||||
Cash dividends paid | (29,796,000) | (29,796,000) | |||||
Shares outstanding, ending balance (shares) at Mar. 31, 2022 | 119,601,766 | ||||||
Ending Period Balance at Mar. 31, 2022 | 3,650,595,000 | $ 1,222,000 | 2,991,159,000 | 1,136,478,000 | (101,789,000) | (376,475,000) | 0 |
Beginning Period Balance at Dec. 31, 2021 | 3,999,630,000 | $ 1,221,000 | 3,013,399,000 | 1,016,350,000 | (97,308,000) | 65,968,000 | 0 |
Shares outstanding, beginning balance (shares) at Dec. 31, 2021 | 119,584,854 | ||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||
Net earnings | 242,488,000 | ||||||
Shares outstanding, ending balance (shares) at Jun. 30, 2022 | 120,288,024 | ||||||
Ending Period Balance at Jun. 30, 2022 | $ 3,978,403,000 | $ 1,230,000 | 2,970,647,000 | 1,258,838,000 | (106,078,000) | (644,750,000) | 498,516,000 |
Dividends declared per share (usd per share) | $ 0.25 | ||||||
Beginning Period Balance at Mar. 31, 2022 | $ 3,650,595,000 | $ 1,222,000 | 2,991,159,000 | 1,136,478,000 | (101,789,000) | (376,475,000) | 0 |
Shares outstanding, beginning balance (shares) at Mar. 31, 2022 | 119,601,766 | ||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||
Net earnings | 122,360,000 | 122,360,000 | |||||
Other comprehensive loss, net of tax | (268,275,000) | (268,275,000) | |||||
Stock Issued During Period, Value, New Issues | 498,516,000 | 498,516,000 | |||||
Restricted stock awarded and earned compensation, net of shares forfeited (shares) | 822,258 | ||||||
Restricted stock awarded and earned stock compensation, net of shares forfeited | 9,698,000 | $ 8,000 | 9,690,000 | ||||
Restricted stock surrendered (shares) | (136,000) | ||||||
Restricted stock surrendered | (4,289,000) | (4,289,000) | |||||
Cash dividends paid | (30,202,000) | (30,202,000) | |||||
Shares outstanding, ending balance (shares) at Jun. 30, 2022 | 120,288,024 | ||||||
Ending Period Balance at Jun. 30, 2022 | $ 3,978,403,000 | $ 1,230,000 | $ 2,970,647,000 | $ 1,258,838,000 | $ (106,078,000) | $ (644,750,000) | $ 498,516,000 |
Condensed Consolidated Statements of Cash Flows $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2022
USD ($)
|
Jun. 30, 2021
USD ($)
|
|
Cash flows from operating activities: | ||
Net earnings | $ 242,488 | $ 330,918 |
Depreciation and amortization | 26,946 | 25,564 |
Amortization of net premiums on investment securities | 29,742 | 16,561 |
Amortization of intangible assets | 7,298 | 5,968 |
Amortization of operating lease ROU assets | 15,100 | 15,215 |
Provision for credit losses | 11,500 | (136,000) |
Gain on sale of foreclosed assets | (3,170) | (214) |
Provision for losses on foreclosed assets | 0 | 14 |
Gain on sale of loans and leases | (72) | (1,561) |
Gain on sale of premises and equipment | (5) | (58) |
Loss (gain) on sale of securities | 1,105 | (101) |
Gain on BOLI death benefit | 0 | (51) |
Unrealized gain on derivatives and foreign currencies, net | (1,330) | (995) |
Earned stock compensation | 17,255 | 15,406 |
(Increase) decrease in other assets | (24,626) | 22,808 |
Decrease in accrued interest payable and other liabilities | (50,662) | (62,869) |
Net cash provided by operating activities | 271,569 | 230,605 |
Cash flows from investing activities: | ||
Cash paid for acquisition, net | 0 | (123,090) |
Net increase in loans and leases | (3,600,769) | (477,874) |
Proceeds from sales of loans and leases | 41,089 | 126,366 |
Proceeds from maturities and paydowns of securities available-for-sale | 417,760 | 435,761 |
Proceeds from sales of securities available-for-sale | 598,415 | 44,652 |
Purchases of securities available-for-sale | (374,921) | (2,497,439) |
Proceeds from maturities and paydowns of securities held-to-maturity | 82 | 0 |
Net purchases of Federal Home Loan Bank stock | (15,960) | 0 |
Proceeds from sales of foreclosed assets | 16,317 | 1,647 |
Purchases of premises and equipment, net | (10,423) | (4,547) |
Proceeds from sales of premises and equipment | 9 | 95 |
Proceeds from BOLI death benefit | 555 | 1,188 |
Net (increase) decrease in equipment leased to others under operating leases | (3,196) | 12,953 |
Net cash used in investing activities | (2,931,042) | (2,480,288) |
Cash flows from financing activities: | ||
Net (decrease) increase in noninterest-bearing deposits | (1,205,104) | 2,021,120 |
Net increase in interest-bearing deposits | 175,499 | 2,647,858 |
Net increase (decrease) in borrowings | (1,592,000) | (48,585) |
Proceeds from subordinated notes offering | 0 | 394,308 |
Proceeds from preferred stock offering | 498,516 | 0 |
Common stock repurchased and restricted stock surrendered | (8,770) | (8,084) |
Cash dividends paid | (59,998) | (59,503) |
Net cash provided by financing activities | 992,143 | 4,947,114 |
Net (decrease) increase in cash, cash equivalents, and restricted cash | (1,667,330) | 2,697,431 |
Cash, cash equivalents, and restricted cash, beginning of period | 4,057,234 | 3,160,661 |
Cash, cash equivalents, and restricted cash, end of period | 2,389,904 | 5,858,092 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 38,596 | 24,683 |
Cash paid for income taxes | 76,037 | 74,147 |
Loans transferred to foreclosed assets | 304 | 647 |
Transfers from loans held for investment to loans held for sale | 0 | $ 25,554 |
Liabilities | 36,972,320 | |
Assets | 40,950,723 | |
Liabilities | $ 36,972,320 |
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares |
Jun. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Statement of Financial Position [Abstract] | ||
Preferred stock par value (usd per share) | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Preferred stock outstanding (shares) | 513,250 | |
Common Stock par value (usd per share) | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Shares, Issued | 123,037,577 | 122,105,853 |
Unvested restricted shares (shares) | 2,516,279 | 2,312,080 |
Treasury Stock (shares) | 2,749,553 | 2,520,999 |
Organization |
6 Months Ended |
---|---|
Jun. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | ORGANIZATION PacWest Bancorp, a Delaware corporation, is a bank holding company registered under the BHCA, with our corporate headquarters located in Beverly Hills, California. Our principal business is to serve as the holding company for our wholly-owned subsidiary, Pacific Western Bank. References to "Pacific Western" or the "Bank" refer to Pacific Western Bank together with its wholly-owned subsidiaries. References to "we," "us," or the "Company" refer to PacWest Bancorp together with its subsidiaries on a consolidated basis. When we refer to "PacWest" or to the "holding company," we are referring to PacWest Bancorp, the parent company, on a stand-alone basis. We are focused on relationship-based business banking to small, middle-market and venture-backed businesses nationwide. The Bank offers a broad range of loan and lease and deposit products and services through 69 full-service branches located in California, one branch located in Durham, North Carolina, one branch located in Denver, Colorado, and numerous loan production offices across the country. The Bank provides community banking products including lending and comprehensive deposit and treasury management services to small and medium-sized businesses conducted primarily through our California-based branch offices and Denver, Colorado branch office. The Bank offers national lending products including asset-based, equipment, and real estate loans and treasury management services to established middle-market businesses on a national basis. The Bank provides venture banking products including a comprehensive suite of financial services focused on entrepreneurial and venture-backed businesses and their venture capital and private equity investors, with offices located in key innovation hubs across the United States. The Bank also offers financing of business-purpose, non-owner-occupied investor properties through Civic, a wholly-owned subsidiary. The Bank also provides a specialized suite of services for the HOA industry. In addition, we provide investment advisory and asset management services to select clients through Pacific Western Asset Management Inc., a wholly-owned subsidiary of the Bank and an SEC-registered investment adviser. We generate our revenue primarily from interest received on loans and leases and, to a lesser extent, from interest received on investment securities, and fees received in connection with deposit services, extending credit and other services offered, including treasury management and investment management services. Our major operating expenses are interest paid by the Bank on deposits and borrowings, compensation, occupancy, and general operating expenses. Significant Accounting Policies Our accounting policies are described in Note 1. Nature of Operations and Summary of Significant Accounting Policies, of our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 as filed with the Securities and Exchange Commission ("Form 10-K"). Updates to our significant accounting policies described below reflect the impact of the Company's transfer of $2.3 billion in fair value of debt securities from available-for-sale to held-to-maturity effective June 1, 2022. Transfer Between Categories of Debt Securities Upon transfer of a debt security from the available-for-sale category to the held-to-maturity category, the security's new amortized cost is reset to fair value, reduced by any previous write-offs but excluding any allowance for credit losses. Any associated unrealized gains or losses on such investments as of the date of transfer become part of the security's amortized cost and are subsequently amortized or accreted into interest income over the remaining life of the securities as effective yield adjustments using the interest method. In addition, the related unrealized gains and losses included in accumulated other comprehensive income on the date of transfer are also subsequently amortized or accreted into interest income over the remaining life of the securities as effective yield adjustments using the interest method. For transfers of securities from the available-for-sale category to the held-to-maturity category, any allowance for credit losses that was previously recorded under the available-for-sale model is reversed and an allowance for credit losses is subsequently recorded under the held-to-maturity debt security model. The reversal and re-establishment of the allowance for credit losses are recorded in the "Provisions for credit losses" on the Company's condensed consolidated statements of earnings. Held-to-Maturity Debt Securities Debt securities that the Company has the intent and ability to hold until maturity are classified as held-to-maturity and are carried at amortized cost, net of the allowance for credit losses. Held-to-maturity debt securities are generally placed on nonaccrual status using factors similar to those described for loans. The amortized cost of the Company's held-to-maturity debt securities excludes accrued interest receivable, which is included in "Other assets" on the Company's condensed consolidated balance sheets. The Company has made an accounting policy election not to recognize an allowance for credit losses for accrued interest receivable on held-to-maturity debt securities, as the Company reverses any accrued interest against interest income if a debt security is placed on nonaccrual status. Any cash collected on nonaccrual held-to-maturity securities is applied to reduce the security's amortized cost basis and not as interest income. Generally, the Company returns a held-to-maturity security to accrual status when all delinquent interest and principal become current under the contractual terms of the security, and the collectability of remaining principal and interest is no longer doubtful. Allowance for Credit Losses on Held-to-Maturity Debt Securities The ACL for held-to-maturity debt securities is recorded at the time of purchase, acquisition or when the Company designates securities as held-to-maturity, representing the Company's best estimate of current expected credit losses as of the date of the condensed consolidated balance sheets. For each major held-to-maturity debt security type, the allowance for credit losses is estimated collectively for groups of securities with similar risk characteristics. For debt securities that do not share similar risk characteristics, the losses are estimated individually. Debt securities that are either guaranteed or issued by the U.S. government or government agency, are highly rated by major rating agencies, and have a long history of no credit losses are an example of such securities to which the Company applies a zero credit loss assumption. Any expected credit loss is provided through the allowance for credit losses on held-to-maturity debt securities and deducted from the amortized cost basis of the security, so that the balance sheet reflects the net amount that the Company expects to collect. Accounting Standards Adopted in 2022 Effective January 1, 2022, the Company partially adopted ASU 2022-02, “Financial Instruments – Credit Losses (Topic 326),” specifically the amendment related to the vintage disclosures, which requires creditors that are public entities to disclose current-period gross charge-offs by year of origination for financing receivables and net investments in leases within the scope of ASC 326-20, “Financial Instruments – Credit Losses – Measured at Amortized Cost.” The amendment also eliminates the disclosure of gross recoveries by year of origination previously presented in Example 15 in ASC 326-20-50-79, since it is not required under the guidance in ASC 326-20-50-6. The Company updated the vintage table disclosure in Note 4. Loans and Leases to present only current-period gross charge-offs by year of origination. The adoption of this amendment did not have a material impact on the Company’s condensed consolidated financial statements. Basis of Presentation Our interim condensed consolidated financial statements are prepared in accordance with U.S. GAAP for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Act of 1934. Accordingly, certain disclosures accompanying annual consolidated financial statements are omitted. In the opinion of management, all significant intercompany accounts and transactions have been eliminated and adjustments, consisting solely of normal recurring accruals and considered necessary for the fair presentation of financial statements for the interim periods, have been included. The current period's results of operations are not necessarily indicative of the results that ultimately may be achieved for the year. The interim condensed consolidated financial statements and notes thereto should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Form 10-K. Use of Estimates We have made a number of estimates and assumptions related to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period to prepare these condensed consolidated financial statements in conformity with U.S. GAAP. Actual results could differ from those estimates. Material estimates subject to change in the near term include, among other items, the allowance for credit losses (the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments), the carrying value of goodwill and other intangible assets, and the realization of deferred tax assets. These estimates may be adjusted as more current information becomes available, and any adjustment may be significant. Reclassifications Certain prior period amounts have been reclassified to conform to the current period’s presentation format. On the consolidated statements of earnings, new lines are presented for "Dividends and gains (losses) on equity investments" and "Warrant income," as those categories exceeded the disclosure materiality threshold in the fourth quarter of 2021, which previously had been included as part of "Other income.
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Restricted Cash Balances |
6 Months Ended |
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Jun. 30, 2022 | |
Restricted Cash [Abstract] | |
Restricted Cash Balances | RESTRICTED CASH BALANCESThe FRBSF establishes cash reserve requirements that its member banks must maintain based on a percentage of deposit liabilities. There were no average reserves required to be held at the FRBSF for the six months ended June 30, 2022 and 2021. As of June 30, 2022 and December 31, 2021, we pledged cash collateral for our derivative contracts of $2.0 million. |
Investment Securities |
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Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Securities | INVESTMENT SECURITIES Transfer of Securities Available-for-Sale to Held-to Maturity Effective June 1, 2022, the Company transferred $2.3 billion in fair value of municipal securities, agency commercial MBS, private label commercial MBS, U.S. Treasury securities, and corporate debt securities from available-for-sale to held-to-maturity. At the time of transfer, $218.3 million of unrealized losses, net of tax, was retained in "Accumulated other comprehensive income (loss)" on the condensed consolidated balance sheets. Securities Available-for-Sale The following table presents amortized cost, gross unrealized gains and losses, and fair values of securities available-for-sale as of the dates indicated:
As of June 30, 2022, the Company had not recorded an allowance for credit losses on securities available-for-sale. The Company does not consider unrealized losses on such securities to be attributable to credit-related factors, as the unrealized losses have occurred as a result of changes in non-credit related factors such as interest rates, market spreads, and market conditions subsequent to purchase. As of June 30, 2022, securities available-for-sale with a fair value of $2.2 billion were pledged as collateral for public deposits and other purposes as required by various statutes and agreements. Realized Gains and Losses on Securities Available-for-Sale The following table presents the amortized cost of securities sold with related gross realized gains, gross realized losses, and net realized (losses) gains for the years indicated:
Unrealized Losses on Securities Available-for-Sale The following tables present the gross unrealized losses and fair values of securities available-for-sale that were in unrealized loss positions as of the dates indicated:
The securities that were in an unrealized loss position at June 30, 2022, were considered impaired and required further review to determine if the unrealized losses were credit-related. We concluded the unrealized losses were a result of the level of market interest rates relative to the types of securities and pricing changes caused by shifting supply and demand dynamics and not a result of downgraded credit ratings or other indicators of deterioration of the underlying issuers' ability to repay. We also considered the seniority of the tranches and U.S. government agency guarantees, if any, to assess whether an unrealized loss was credit-related. Accordingly, we determined the unrealized losses were not credit-related and recognized the unrealized losses in "other comprehensive income (loss)" in stockholders' equity. Although we periodically sell securities for portfolio management purposes, we do not foresee having to sell any impaired securities strictly for liquidity needs and believe that it is more likely than not we would not be required to sell any impaired securities before recovery of their amortized cost. Contractual Maturities of Securities Available-for-Sale The following table presents the contractual maturities of our securities available-for-sale portfolio based on amortized cost and carrying value as of the date indicated:
CMBS, CMOs, and MBS have contractual maturity dates, but require periodic payments based upon scheduled amortization terms. Actual principal collections on these securities usually occur more rapidly than the scheduled amortization terms because of prepayments made by obligors of the underlying loan collateral. Securities Held-to-Maturity The following table presents amortized cost, allowance for credit losses, gross unrealized gains and losses, and fair values of securities held-to-maturity as of the date indicated:
(1) Excludes accrued interest receivable of $13.7 million at June 30, 2022 which is recorded in "Other assets" on the condensed consolidated balance sheets. As of June 30, 2022, securities held-to-maturity with a fair value of $619.4 million were pledged as collateral for public deposits and other purposes as required by various statutes and agreements. Allowance for Credit Losses on Securities Held-to-Maturity The following table presents the changes by major security type in our allowance for credit losses on securities held-to-maturity for the periods indicated:
Credit losses on HTM securities are recorded at the time of purchase, acquisition, or when the Company designates securities as held-to-maturity. Credit losses on HTM securities are representative of current expected credit losses that may be incurred over the life of the investment. Accrued interest receivable on HTM securities, which is included in other assets on the condensed consolidated balance sheets, is excluded from the estimate of expected credit losses. HTM U.S. treasury securities and agency-backed MBS securities are considered to have no risk of loss as they are either explicitly or implicitly guaranteed by the U.S. government. The change in fair value in the HTM private label CMBS portfolio is solely driven by changes in interest rates. The Company has no knowledge of any underlying credit issues and the cash flows underlying the debt securities have not changed and are not expected to be impacted by changes in interest rates and, thus, there is no related ACL for this portfolio. The underlying bonds in the Company’s HTM municipal securities and HTM corporate debt securities portfolios are evaluated for credit losses in conjunction with management’s estimate of the allowance for credit losses based primarily on credit ratings. Securities Held-to-Maturity by Credit Quality Indicator The Company uses S&P, Moody's, Fitch, Kroll, and Egan Jones ratings as the credit quality indicators for its held-to-maturity securities. The following table presents our securities held-to-maturity portfolio by the lowest available credit rating as of the date indicated:
Contractual Maturities of Securities Held-to-Maturity The following table presents the contractual maturities of our securities held-to-maturity portfolio based on amortized cost and carrying value as of the date indicated:
CMBS have contractual maturity dates, but require periodic payments based upon scheduled amortization terms. Actual principal collections on these securities usually occur more rapidly than the scheduled amortization terms because of prepayments made by obligors of the underlying loan collateral. Interest Income on Investment Securities The following table presents the composition of our interest income on investment securities, including available-for-sale and held-to-maturity, for the periods indicated:
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Loans and Leases |
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Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases | LOANS AND LEASES Our loans are carried at the principal amount outstanding, net of deferred fees and costs, and in the case of acquired and purchased loans, net of purchase discounts and premiums. Deferred fees and costs and purchase discounts and premiums on acquired loans are recognized as an adjustment to interest income over the contractual life of the loans primarily using the effective interest method or taken into income when the related loans are paid off or included in the carrying amount of loans that are sold. Loans and Leases Held for Investment The following table summarizes the composition of our loans and leases held for investment as of the dates indicated:
____________________ (1) Includes land and acquisition and development loans of $116.3 million and $151.8 million at June 30, 2022 and December 31, 2021. (2) Excludes accrued interest receivable of $88.9 million and $80.3 million at June 30, 2022 and December 31, 2021, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets. The following tables present an aging analysis of our loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated:
It is our policy to discontinue accruing interest when principal or interest payments are past due 90 days or more (unless the loan is both well secured and in the process of collection) or when, in the opinion of management, there is a reasonable doubt as to the collectability of a loan or lease in the normal course of business. Interest income on nonaccrual loans is recognized only to the extent cash is received and the principal balance of the loan is deemed collectable. The following table presents our nonaccrual and performing loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated:
At June 30, 2022, nonaccrual loans and leases included $38.1 million of loans and leases 90 or more days past due, $15.8 million of loans and leases 30 to 89 days past due, and $24.7 million of loans and leases current with respect to contractual payments that were placed on nonaccrual status based on management’s judgment regarding their collectability. At December 31, 2021, nonaccrual loans and leases included $18.5 million of loans and leases 90 or more days past due, $6.3 million of loans and leases 30 to 89 days past due, and $36.4 million of current loans and leases that were placed on nonaccrual status based on management’s judgment regarding their collectability. As of June 30, 2022, our three largest loan relationships on nonaccrual status had an aggregate carrying value of $19.5 million and represented 25% of total nonaccrual loans and leases. The following tables present the credit risk rating categories for loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated. Classified loans and leases are those with a credit risk rating of either substandard or doubtful.
The following table presents our nonaccrual loans and leases by loan portfolio segment and class and by with and without an allowance recorded as of the date indicated and interest income recognized on nonaccrual loans and leases for the periods indicated:
The following tables present our loans held for investment by loan portfolio segment and class, by credit quality indicator (internal risk ratings), and by year of origination (vintage year) as of the dates indicated:
(1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
______________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. TDRs are a result of rate reductions, term extensions, fee concessions, transfers to foreclosed assets, discounted loan payoffs, and debt forgiveness, or a combination thereof. The following table presents our troubled debt restructurings of loans held for investment by loan portfolio segment and class for the periods indicated:
During the three months and six months ended June 30, 2022, there was one residential real estate mortgage loan for $104,000 and two other commercial loans for $110,000 restructured in the preceding 12-month period that subsequently defaulted. During the three months and six months ended June 30, 2021, there were two other commercial loan for $134,000 restructured in the preceding 12-month period that subsequently defaulted. Leases Receivable We provide equipment financing to our customers primarily with operating and direct financing leases. For direct financing leases, lease receivables are recorded on the balance sheet but the leased equipment is not, although we generally retain legal title to the leased equipment until the end of each lease. Direct financing leases are stated at the net amount of minimum lease payments receivable, plus any unguaranteed residual value, less the amount of unearned income and net acquisition discount at the reporting date. Direct lease origination costs are amortized using the effective interest method over the life of the leases. Direct financing leases are subject to our accounting for allowance for loan and lease losses. See Note 8. Leases for information regarding operating leases where we are the lessor. The following table provides the components of leases receivable income for the periods indicated:
The following table presents the components of leases receivable as of the dates indicated:
The following table presents maturities of leases receivable as of the date indicated:
Allowance for Loan and Lease Losses The following tables present a summary of the activity in the allowance for loan and lease losses on loans and leases held for investment by loan portfolio segment for the periods indicated:
The allowance for loan and lease losses decreased by $8.7 million in the second quarter of 2022 to $188.7 million due primarily to a provision for loan and lease losses benefit of $10.0 million driven by improvement in credit risks specific to the COVID-19 pandemic combined with changes in our loan portfolio composition, offset partially by an increased provision for loan growth and economic uncertainty. We actively participated in both rounds of the Paycheck Protection Program ("PPP"), under the provisions of the CARES Act during 2020 and 2021, originating $1.65 billion of such loans. As of June 30, 2022, PPP loans totaled $33.0 million, net of deferred fees. The loans have two or five year terms, are fully guaranteed by the SBA, and do not carry an allowance. A loan is considered collateral-dependent, and is individually evaluated for reserve purposes, when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The following table summarizes collateral-dependent loans held for investment by collateral type as of the following dates:
Allowance for Credit Losses The allowance for credit losses is the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments. The reserve for unfunded loan commitments is included within "Accrued interest payable and other liabilities" on the condensed consolidated balance sheets. The following tables present a summary of the activity in the allowance for loan and lease losses and reserve for unfunded loan commitments for the periods indicated:
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Foreclosed Assets |
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Jun. 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Real Estate Owned Net Covered and NonCovered Including Foreclosed Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreclosed Assets | FORECLOSED ASSETS, NET The following table summarizes foreclosed assets, net of the valuation allowance, as of the dates indicated:
The following table presents the changes in foreclosed assets, net of the valuation allowance, for the period indicated:
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Goodwill and Other Intangible Assets |
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Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS, NET Goodwill and other intangible assets arise from the acquisition method of accounting for business combinations. Goodwill and other intangible assets generated from business combinations and deemed to have indefinite lives are not subject to amortization and instead are tested for impairment annually unless a triggering event occurs thereby requiring an updated assessment. Our regular annual impairment assessment occurs in the fourth quarter. Goodwill represents the excess of the purchase price over the fair value of the net assets and other identifiable intangible assets acquired. Impairment exists when the carrying value of the goodwill exceeds its fair value. An impairment loss would be recognized in an amount equal to that excess as a charge to "Noninterest expense" in the condensed consolidated statements of earnings. Our other intangible assets with definite lives are CDI and CRI. CDI and CRI are amortized over their respective estimated useful lives and reviewed for impairment at least quarterly. The amortization expense represents the estimated decline in the value of the underlying deposits or customer relationships acquired. The following table presents the changes in CDI and CRI and the related accumulated amortization for the periods indicated:
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Other Assets |
3 Months Ended | 6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2022 |
Jun. 30, 2022 |
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Other Assets [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Assets | OTHER ASSETS The following table presents the detail of our other assets as of the dates indicated:
____________________ (1) At December 31, 2021, this was a net deferred tax liability of $19.6 million. The change to a deferred tax asset in 2022 was primarily attributable to the increase in unrealized losses on the Company's investment securities portfolio. (2) See Note 8. Leases for further details regarding the operating lease ROU assets. (3) See Note 10. Derivatives for information regarding equity warrants.
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Stock-Based Compensation | STOCKHOLDERS' EQUITY Stock-Based Compensation At the annual meeting of stockholders held on May 11, 2021, the Company's stockholders approved the Amended and Restated PacWest Bancorp 2017 Stock Incentive Plan (the “Amended and Restated 2017 Plan”). The Company’s Amended and Restated 2017 Plan permits stock-based compensation awards to officers, directors, employees, and consultants and will remain in effect until December 31, 2026. The Amended and Restated 2017 Plan authorizes grants of stock-based compensation instruments to issue up to 6,650,000 shares. As of June 30, 2022, there were 2,083,271 shares available for grant under the Amended and Restated 2017 Plan. Restricted Stock Restricted stock amortization totaled $9.0 million and $8.2 million for the three months ended June 30, 2022 and 2021 and $16.5 million and $14.6 million for the six months ended June 30, 2022 and 2021. Such amounts are included in "Compensation expense" on the condensed consolidated statements of earnings. The amount of unrecognized compensation expense related to unvested TRSAs and PRSUs as of June 30, 2022 totaled $82.3 million. Time-Based Restricted Stock Awards At June 30, 2022, there were 2,516,279 shares of unvested TRSAs outstanding. TRSAs generally vest ratably over a service period of or four years from the date of the grant or immediately upon death of an employee. Compensation expense related to TRSAs is based on the fair value of the underlying award on the grant date and is recognized over the vesting period using the straight-line method. Performance-Based Restricted Stock Units At June 30, 2022, there were 505,647 units of unvested PRSUs that have been granted. The PRSUs will vest only if performance goals with respect to certain financial metrics are met over a three-year performance period. The shares underlying the PRSUs are not considered issued and outstanding until they vest. PRSUs are granted and initially expensed based on a target number. The number of shares that will ultimately vest based on actual performance will range from zero to a maximum of either 150% or 200% of target. Compensation expense related to PRSUs is based on the fair value of the underlying award on the grant date and is amortized over the vesting period using the straight-line method unless it is determined that: (1) attainment of the financial metrics is less than probable, in which case a portion or all of the amortization is suspended, or (2) attainment of the financial metrics is improbable, in which case a portion or all of the previously recognized amortization is reversed and also suspended. If it is determined that attainment of a financial measure higher than target is probable, the amortization will increase to up to 150% or 200% of the target amortization amount. Annual PRSU expense may vary during the three-year performance period based upon changes in management's estimate of the number of shares that may ultimately vest. In the case where the performance target for the PRSU is based on a market condition (such as total shareholder return), the amortization is neither reversed nor suspended if it is subsequently determined that the attainment of the performance target is less than probable or improbable and the employee continues to meet the service requirement of the award. Preferred Stock Issuance On June 6, 2022, the Company issued and sold 20,530,000 depositary shares (the “Depositary Shares”), each representing a 1/40th ownership interest in a share of the Company’s 7.75% fixed rate reset non-cumulative, non-convertible, perpetual preferred stock, Series A, par value $0.01 per share (the “Series A preferred stock”), with a liquidation preference of $1,000 per share of Series A preferred stock (equivalent to $25.00 per Depositary Share). The Series A preferred stock qualifies as Tier 1 capital for purposes of regulatory capital calculations. The gross proceeds were $513.3 million while net proceeds from the issuance of the Series A preferred stock, after deducting $14.7 million of offering costs including the underwriting discount and other expenses, were $498.5 million. Holders of the Depositary Shares will be entitled to all proportional rights and preferences of the Series A preferred stock (including dividend, voting, redemption, and liquidation rights). Dividends on the Series A preferred stock will not be cumulative or mandatory. If the Company’s board of directors does not declare a dividend on the Series A preferred stock in respect of a dividend period, then no dividend shall be deemed to be payable for such dividend period, or be cumulative, and the Company will have no obligation to pay any dividend for that dividend period, whether or not the board of directors, declares a dividend on the Series A preferred stock or any other class or series of its capital stock for any future dividend period. Additionally, so long as any share of Series A preferred stock remains outstanding, unless dividends on all outstanding shares of Series A preferred stock for the most recently completed dividend period have been paid in full or declared and a sum sufficient for the payment thereof has been set aside for payment, no dividend shall be declared or paid or set aside for payment and no distribution shall be declared or made or set aside for payment on the Company’s common stock. The Series A preferred stock is perpetual and has no maturity date. The Series A preferred stock is not subject to any mandatory redemption, sinking fund, or other similar provisions. The Company, at its option and subject to prior regulatory approval, may redeem the Series A preferred stock (i) in whole or in part, from time to time, on any dividend payment date on or after September 1, 2027 or (ii) in whole but not in part at any time within 90 days following a regulatory capital treatment event, in each case, at a redemption price equal to $1,000 per share of Series A preferred stock (equivalent to $25 per Depositary Share), plus any declared and unpaid dividends, without regard to any undeclared dividends, to but excluding the redemption date. Neither the holders of the Series A preferred stock nor holders of the Depositary Shares will have the right to require the redemption or repurchase of the Series A preferred stock.
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Leases |
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Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases | LEASES Operating Leases as a Lessee Our lease expense is a component of "Occupancy expense" on our condensed consolidated statements of earnings. The following table presents the components of lease expense for the periods indicated:
The following table presents supplemental cash flow information related to leases for the periods indicated:
The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated:
The following table presents the maturities of operating lease liabilities as of the date indicated:
Operating Leases as a Lessor We provide equipment financing to our customers through operating leases where we facilitate the purchase of equipment leased to our customers. The equipment is shown on the condensed consolidated balance sheets as "Equipment leased to others under operating leases" and is depreciated to its estimated residual value at the end of the lease term, shown as "Leased equipment depreciation" in the condensed consolidated statements of earnings, according to our fixed asset accounting policy. We receive periodic rental income payments under the leases, which are recorded as "Noninterest Income" in the condensed consolidated statements of earnings. The equipment is tested periodically for impairment. No impairment was recorded on "Equipment leased to others under operating leases" during the six months ended June 30, 2022 and 2021. The following table presents the rental payments to be received on operating leases as of the date indicated:
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Leases | LEASES Operating Leases as a Lessee Our lease expense is a component of "Occupancy expense" on our condensed consolidated statements of earnings. The following table presents the components of lease expense for the periods indicated:
The following table presents supplemental cash flow information related to leases for the periods indicated:
The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated:
The following table presents the maturities of operating lease liabilities as of the date indicated:
Operating Leases as a Lessor We provide equipment financing to our customers through operating leases where we facilitate the purchase of equipment leased to our customers. The equipment is shown on the condensed consolidated balance sheets as "Equipment leased to others under operating leases" and is depreciated to its estimated residual value at the end of the lease term, shown as "Leased equipment depreciation" in the condensed consolidated statements of earnings, according to our fixed asset accounting policy. We receive periodic rental income payments under the leases, which are recorded as "Noninterest Income" in the condensed consolidated statements of earnings. The equipment is tested periodically for impairment. No impairment was recorded on "Equipment leased to others under operating leases" during the six months ended June 30, 2022 and 2021. The following table presents the rental payments to be received on operating leases as of the date indicated:
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Borrowings and Subordinated Debentures |
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Jun. 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings and Subordinated Debentures | BORROWINGS AND SUBORDINATED DEBT Borrowings The following table summarizes our borrowings as of the dates indicated:
The Bank has established secured and unsecured lines of credit under which it may borrow funds from time to time on a term or overnight basis from the FHLB, the FRBSF, and other financial institutions. FHLB Secured Line of Credit. The Bank had secured financing capacity with the FHLB as of June 30, 2022 of $5.4 billion, collateralized by a blanket lien on $5.7 billion of qualifying loans and $2.1 billion of securities. As of June 30, 2022, the balance outstanding was $1.2 billion, which consisted of a $1.0 billion overnight advance and a $200.0 million one-month advance with a July 6, 2022 maturity date. As of December 31, 2021, there was no balance outstanding. FRBSF Secured Line of Credit. The Bank has a secured line of credit with the FRBSF. As of June 30, 2022, the Bank had secured borrowing capacity of $2.4 billion collateralized by liens covering $3.0 billion of qualifying loans. As of June 30, 2022 and December 31, 2021, there were no balances outstanding. FHLB Unsecured Line of Credit. The Bank has a $112.0 million unsecured line of credit with the FHLB for the purchase of overnight funds, of which there was a $112.0 million balance outstanding at June 30, 2022 and no balance outstanding at December 31, 2021. Federal Funds Arrangements with Commercial Banks. As of June 30, 2022, the Bank had unsecured lines of credit of $180.0 million in the aggregate with several correspondent banks for the purchase of overnight funds, subject to availability of funds. These lines are renewable annually and have no unused commitment fees. As of June 30, 2022 and December 31, 2021, there were no balances outstanding. The Bank is a member of the AFX, through which it may either borrow or lend funds on an overnight or short-term basis with a group of pre-approved commercial banks. The availability of funds changes daily. As of June 30, 2022, the balance outstanding was $250.0 million, which consisted of $250.0 million in overnight borrowings. As of December 31, 2021, there was no balance outstanding. Subordinated Debt The following table summarizes the terms of each issuance of subordinated debt outstanding as of the dates indicated:
___________________ (1) Rates do not include the effects of discounts and issuance costs. (2) Net of unamortized issuance costs of $5.1 million. (3) Interest rate is fixed until May 1, 2026, when it changes to a floating rate and resets quarterly at a benchmark rate plus 252 basis points. (4) Denomination is in Euros with a value of €25.8 million. (5) Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions. (6) Interest rate will default to the last published or determined rate of LIBOR, and for Trust CS 2006-4, the Base Rate, defined as the greater of Prime and the federal funds rate, upon cessation of LIBOR and effectively converting these instruments to fixed rate, if not modified prior to June 30, 2023.
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Derivatives |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Derivatives [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives | DERIVATIVES The following table presents the U.S. dollar notional amounts and fair values of our derivative instruments included in the condensed consolidated balance sheets as of the dates indicated:
For further information regarding our derivatives, see Note 1. Nature of Operations and Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements contained in "Item 8. Financial Statements and Supplementary Data" of the Form 10-K.
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Commitments and Contingencies |
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Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES The following table presents a summary of commitments described below as of the dates indicated:
The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the condensed consolidated balance sheets. The contract or notional amounts of those instruments reflect the extent of involvement that the Company has in particular classes of financial instruments. Commitments to extend credit are contractual agreements to lend to our customers when customers are in compliance with their contractual credit agreements and when customers have contractual availability to borrow under such agreements. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The estimated exposure to loss from these commitments is included in the reserve for unfunded loan commitments, which amounted to $95.1 million at June 30, 2022 and $73.1 million at December 31, 2021. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. We provide standby letters of credit in conjunction with several of our lending arrangements and property lease obligations. Most guarantees expire within one year from the date of issuance. If a borrower defaults on its commitments subject to any letter of credit issued under these arrangements, we would be required to meet the borrower's financial obligation but would seek repayment of that financial obligation from the borrower. In some cases, borrowers have pledged cash and investment securities as collateral under these arrangements. In addition, we invest in SBICs that call for capital contributions up to an amount specified in the partnership agreements, and in CRA-related loan pools. As of June 30, 2022 and December 31, 2021, we had commitments to contribute capital to these entities totaling $80.4 million and $85.9 million. The following table presents the years in which commitments are expected to be paid for our commitments to contribute capital to SBICs and CRA-related loan pools as of the date indicated:
Legal Matters In the ordinary course of our business, the Company is party to various legal actions, which we believe are incidental to the operation of our business. The outcome of such legal actions and the timing of ultimate resolution are inherently difficult to predict. In the opinion of management, based upon currently available information, any resulting liability, in addition to amounts already accrued, and taking into consideration insurance which may be applicable, would not have a material adverse effect on the Company’s financial statements or operations. The range of any reasonably possible liabilities is also not significant.
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Fair Value Measurements |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements | FAIR VALUE MEASUREMENTS The Company uses fair value to measure certain assets and liabilities on a recurring basis, primarily securities available-for-sale and derivatives. For assets measured at the lower of cost or fair value, the fair value measurement criteria may or may not be met during a reporting period and such measurements are therefore considered “nonrecurring” for purposes of disclosing our fair value measurements. Fair value is used on a nonrecurring basis to adjust carrying values for individually evaluated loans and leases and other real estate owned and also to record impairment on certain assets, such as goodwill, CDI, and other long-lived assets. For information regarding the valuation methodologies used to measure our assets recorded at fair value (under ASC Topic 820), and for estimating fair value for financial instruments not recorded at fair value (under ASC Topic 825, as amended by ASU 2016-01 and ASU 2018-03), see Note 1. Nature of Operations and Summary of Significant Accounting Policies, and Note 15. Fair Value Measurements, to the Consolidated Financial Statements of the Company's Form 10-K. The Company also holds SBIC investments measured at fair value using the NAV per share practical expedient that are not required to be classified in the fair value hierarchy. At June 30, 2022, the fair value of these investments was $57.3 million. The following tables present information on the assets and liabilities measured and recorded at fair value on a recurring basis as of the dates indicated:
____________________ (1) For information regarding derivative instruments, see Note 10. Derivatives. During the six months ended June 30, 2022, there was a $9,000 transfer from Level 3 equity warrants to Level 1 equity investments with readily determinable fair values measured on a recurring basis. There was also a $4.6 million transfer of private label commercial MBS from Level 3 to Level 2 during the six months ended June 30, 2022. The following table presents information about quantitative inputs and assumptions used in the modified Black-Scholes option pricing model to determine the fair value for our Level 3 equity warrants measured at fair value on a recurring basis as of the date indicated:
____________________ (1) Unobservable inputs for equity warrants were weighted by the relative fair values of the instruments. The following table summarizes activity for our Level 3 private label commercial MBS available-for-sale and equity warrants measured at fair value on a recurring basis for the period indicated:
The following tables present assets measured at fair value on a non-recurring basis as of the dates indicated:
The following table presents losses recognized on assets measured on a nonrecurring basis for the periods indicated:
The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis as of the date indicated:
The following tables present carrying amounts and estimated fair values of certain financial instruments as of the dates indicated:
Limitations Fair value estimates are made at a specific point in time and are based on relevant market information and information about the financial instrument. These estimates do not reflect income taxes or any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a portion of the Company’s financial instruments, fair value estimates are based on what management believes to be reasonable judgments regarding expected future cash flows, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimated fair values are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Since the fair values have been estimated as of June 30, 2022, the amounts that will actually be realized or paid at settlement or maturity of the instruments could be significantly different.
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Earnings (Loss) Per Share |
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings (Loss) Per Share | EARNINGS PER COMMON SHARE The following table presents the computations of basic and diluted net earnings per common share for the periods indicated:
________________________ (1) Represents cash dividends paid to holders of unvested restricted stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any.
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Revenue From Contracts With Customers |
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Revenue From Contracts With Customers [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contracts with Customers | REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue The following table presents interest income and noninterest income, the components of total revenue, as disclosed in the condensed consolidated statements of earnings and the related amounts which are from contracts with customers within the scope of ASC Topic 606, "Revenue from Contracts with Customers," for the periods indicated. As illustrated here, substantially all of our revenue is specifically excluded from the scope of ASC Topic 606.
The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated:
The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated:
Contract Balances The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers as of the dates indicated: Contract liabilities relate to advance consideration received from customers for which revenue is recognized over the life of the contract. The change in contract liabilities for the six months ended June 30, 2022 due to revenue recognized that was included in the contract liability balance at the beginning of the period was $66,000.
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Stockholders' Equity |
3 Months Ended |
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Jun. 30, 2022 | |
Share-based Payment Arrangement [Abstract] | |
Stock-Based Compensation | STOCKHOLDERS' EQUITY Stock-Based Compensation At the annual meeting of stockholders held on May 11, 2021, the Company's stockholders approved the Amended and Restated PacWest Bancorp 2017 Stock Incentive Plan (the “Amended and Restated 2017 Plan”). The Company’s Amended and Restated 2017 Plan permits stock-based compensation awards to officers, directors, employees, and consultants and will remain in effect until December 31, 2026. The Amended and Restated 2017 Plan authorizes grants of stock-based compensation instruments to issue up to 6,650,000 shares. As of June 30, 2022, there were 2,083,271 shares available for grant under the Amended and Restated 2017 Plan. Restricted Stock Restricted stock amortization totaled $9.0 million and $8.2 million for the three months ended June 30, 2022 and 2021 and $16.5 million and $14.6 million for the six months ended June 30, 2022 and 2021. Such amounts are included in "Compensation expense" on the condensed consolidated statements of earnings. The amount of unrecognized compensation expense related to unvested TRSAs and PRSUs as of June 30, 2022 totaled $82.3 million. Time-Based Restricted Stock Awards At June 30, 2022, there were 2,516,279 shares of unvested TRSAs outstanding. TRSAs generally vest ratably over a service period of or four years from the date of the grant or immediately upon death of an employee. Compensation expense related to TRSAs is based on the fair value of the underlying award on the grant date and is recognized over the vesting period using the straight-line method. Performance-Based Restricted Stock Units At June 30, 2022, there were 505,647 units of unvested PRSUs that have been granted. The PRSUs will vest only if performance goals with respect to certain financial metrics are met over a three-year performance period. The shares underlying the PRSUs are not considered issued and outstanding until they vest. PRSUs are granted and initially expensed based on a target number. The number of shares that will ultimately vest based on actual performance will range from zero to a maximum of either 150% or 200% of target. Compensation expense related to PRSUs is based on the fair value of the underlying award on the grant date and is amortized over the vesting period using the straight-line method unless it is determined that: (1) attainment of the financial metrics is less than probable, in which case a portion or all of the amortization is suspended, or (2) attainment of the financial metrics is improbable, in which case a portion or all of the previously recognized amortization is reversed and also suspended. If it is determined that attainment of a financial measure higher than target is probable, the amortization will increase to up to 150% or 200% of the target amortization amount. Annual PRSU expense may vary during the three-year performance period based upon changes in management's estimate of the number of shares that may ultimately vest. In the case where the performance target for the PRSU is based on a market condition (such as total shareholder return), the amortization is neither reversed nor suspended if it is subsequently determined that the attainment of the performance target is less than probable or improbable and the employee continues to meet the service requirement of the award. Preferred Stock Issuance On June 6, 2022, the Company issued and sold 20,530,000 depositary shares (the “Depositary Shares”), each representing a 1/40th ownership interest in a share of the Company’s 7.75% fixed rate reset non-cumulative, non-convertible, perpetual preferred stock, Series A, par value $0.01 per share (the “Series A preferred stock”), with a liquidation preference of $1,000 per share of Series A preferred stock (equivalent to $25.00 per Depositary Share). The Series A preferred stock qualifies as Tier 1 capital for purposes of regulatory capital calculations. The gross proceeds were $513.3 million while net proceeds from the issuance of the Series A preferred stock, after deducting $14.7 million of offering costs including the underwriting discount and other expenses, were $498.5 million. Holders of the Depositary Shares will be entitled to all proportional rights and preferences of the Series A preferred stock (including dividend, voting, redemption, and liquidation rights). Dividends on the Series A preferred stock will not be cumulative or mandatory. If the Company’s board of directors does not declare a dividend on the Series A preferred stock in respect of a dividend period, then no dividend shall be deemed to be payable for such dividend period, or be cumulative, and the Company will have no obligation to pay any dividend for that dividend period, whether or not the board of directors, declares a dividend on the Series A preferred stock or any other class or series of its capital stock for any future dividend period. Additionally, so long as any share of Series A preferred stock remains outstanding, unless dividends on all outstanding shares of Series A preferred stock for the most recently completed dividend period have been paid in full or declared and a sum sufficient for the payment thereof has been set aside for payment, no dividend shall be declared or paid or set aside for payment and no distribution shall be declared or made or set aside for payment on the Company’s common stock. The Series A preferred stock is perpetual and has no maturity date. The Series A preferred stock is not subject to any mandatory redemption, sinking fund, or other similar provisions. The Company, at its option and subject to prior regulatory approval, may redeem the Series A preferred stock (i) in whole or in part, from time to time, on any dividend payment date on or after September 1, 2027 or (ii) in whole but not in part at any time within 90 days following a regulatory capital treatment event, in each case, at a redemption price equal to $1,000 per share of Series A preferred stock (equivalent to $25 per Depositary Share), plus any declared and unpaid dividends, without regard to any undeclared dividends, to but excluding the redemption date. Neither the holders of the Series A preferred stock nor holders of the Depositary Shares will have the right to require the redemption or repurchase of the Series A preferred stock.
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Recently Issued Accounting Standards |
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Recently Issued Accounting Standards [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recently Issued Accounting Standards | RECENTLY ISSUED ACCOUNTING STANDARDS
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Related Party Disclosures |
6 Months Ended |
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Jun. 30, 2022 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure | NOTE 17. RELATED PARTY TRANSACTIONS In February 2022, the Company purchased $133.1 million in unpaid principal balances of single-family residential mortgage loans from a privately owned non-affiliated bank holding company. In addition, the Company entered into a subservicing agreement with the bank holding company pursuant to which it would service the purchased loans on an ongoing basis and the Company could outsource servicing of loans purchased from third parties to it. The Company’s Chairman of the Board of Directors is a director of the non-affiliated bank holding company. The transactions described above were approved by the Audit Committee of the Board of Directors in accordance with our related party transactions policy.
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Subsequent Events |
6 Months Ended |
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Jun. 30, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTS Common Stock Dividends On August 1, 2022, the Company announced that the Board of Directors had declared a quarterly cash dividend of $0.25 per common share. The cash dividend is payable on August 31, 2022 to stockholders of record at the close of business on August 15, 2022. Preferred Stock Dividends On August 1, 2022, the Company announced that the Board of Directors had declared a quarterly cash dividend of $0.4575 per Depositary Share. The cash dividend is payable on September 1, 2022 to stockholders of record at the close of business on August 15, 2022. The Company has evaluated events that have occurred subsequent to June 30, 2022 and have concluded there are no other subsequent events that would require recognition in the accompanying condensed consolidated financial statements.
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Organization Organization (Policies) |
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Significant Accounting Policies | Significant Accounting Policies Our accounting policies are described in Note 1. Nature of Operations and Summary of Significant Accounting Policies, of our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 as filed with the Securities and Exchange Commission ("Form 10-K"). Updates to our significant accounting policies described below reflect the impact of the Company's transfer of $2.3 billion in fair value of debt securities from available-for-sale to held-to-maturity effective June 1, 2022. Transfer Between Categories of Debt Securities Upon transfer of a debt security from the available-for-sale category to the held-to-maturity category, the security's new amortized cost is reset to fair value, reduced by any previous write-offs but excluding any allowance for credit losses. Any associated unrealized gains or losses on such investments as of the date of transfer become part of the security's amortized cost and are subsequently amortized or accreted into interest income over the remaining life of the securities as effective yield adjustments using the interest method. In addition, the related unrealized gains and losses included in accumulated other comprehensive income on the date of transfer are also subsequently amortized or accreted into interest income over the remaining life of the securities as effective yield adjustments using the interest method. For transfers of securities from the available-for-sale category to the held-to-maturity category, any allowance for credit losses that was previously recorded under the available-for-sale model is reversed and an allowance for credit losses is subsequently recorded under the held-to-maturity debt security model. The reversal and re-establishment of the allowance for credit losses are recorded in the "Provisions for credit losses" on the Company's condensed consolidated statements of earnings. Held-to-Maturity Debt Securities Debt securities that the Company has the intent and ability to hold until maturity are classified as held-to-maturity and are carried at amortized cost, net of the allowance for credit losses. Held-to-maturity debt securities are generally placed on nonaccrual status using factors similar to those described for loans. The amortized cost of the Company's held-to-maturity debt securities excludes accrued interest receivable, which is included in "Other assets" on the Company's condensed consolidated balance sheets. The Company has made an accounting policy election not to recognize an allowance for credit losses for accrued interest receivable on held-to-maturity debt securities, as the Company reverses any accrued interest against interest income if a debt security is placed on nonaccrual status. Any cash collected on nonaccrual held-to-maturity securities is applied to reduce the security's amortized cost basis and not as interest income. Generally, the Company returns a held-to-maturity security to accrual status when all delinquent interest and principal become current under the contractual terms of the security, and the collectability of remaining principal and interest is no longer doubtful. Allowance for Credit Losses on Held-to-Maturity Debt Securities The ACL for held-to-maturity debt securities is recorded at the time of purchase, acquisition or when the Company designates securities as held-to-maturity, representing the Company's best estimate of current expected credit losses as of the date of the condensed consolidated balance sheets. For each major held-to-maturity debt security type, the allowance for credit losses is estimated collectively for groups of securities with similar risk characteristics. For debt securities that do not share similar risk characteristics, the losses are estimated individually. Debt securities that are either guaranteed or issued by the U.S. government or government agency, are highly rated by major rating agencies, and have a long history of no credit losses are an example of such securities to which the Company applies a zero credit loss assumption. Any expected credit loss is provided through the allowance for credit losses on held-to-maturity debt securities and deducted from the amortized cost basis of the security, so that the balance sheet reflects the net amount that the Company expects to collect.
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Recently Issued Accounting Standards | Accounting Standards Adopted in 2022 Effective January 1, 2022, the Company partially adopted ASU 2022-02, “Financial Instruments – Credit Losses (Topic 326),” specifically the amendment related to the vintage disclosures, which requires creditors that are public entities to disclose current-period gross charge-offs by year of origination for financing receivables and net investments in leases within the scope of ASC 326-20, “Financial Instruments – Credit Losses – Measured at Amortized Cost.” The amendment also eliminates the disclosure of gross recoveries by year of origination previously presented in Example 15 in ASC 326-20-50-79, since it is not required under the guidance in ASC 326-20-50-6. The Company updated the vintage table disclosure in Note 4. Loans and Leases to present only current-period gross charge-offs by year of origination. The adoption of this amendment did not have a material impact on the Company’s condensed consolidated financial statements. RECENTLY ISSUED ACCOUNTING STANDARDS
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Basis of Presentation | Basis of Presentation Our interim condensed consolidated financial statements are prepared in accordance with U.S. GAAP for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Act of 1934. Accordingly, certain disclosures accompanying annual consolidated financial statements are omitted. In the opinion of management, all significant intercompany accounts and transactions have been eliminated and adjustments, consisting solely of normal recurring accruals and considered necessary for the fair presentation of financial statements for the interim periods, have been included. The current period's results of operations are not necessarily indicative of the results that ultimately may be achieved for the year. The interim condensed consolidated financial statements and notes thereto should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Form 10-K. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Use of Estimates | Use of EstimatesWe have made a number of estimates and assumptions related to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period to prepare these condensed consolidated financial statements in conformity with U.S. GAAP. Actual results could differ from those estimates. Material estimates subject to change in the near term include, among other items, the allowance for credit losses (the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments), the carrying value of goodwill and other intangible assets, and the realization of deferred tax assets. These estimates may be adjusted as more current information becomes available, and any adjustment may be significant. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassifications | Reclassifications Certain prior period amounts have been reclassified to conform to the current period’s presentation format. On the consolidated statements of earnings, new lines are presented for "Dividends and gains (losses) on equity investments" and "Warrant income," as those categories exceeded the disclosure materiality threshold in the fourth quarter of 2021, which previously had been included as part of "Other income. |
Fair Value Disclosures (Policies) |
6 Months Ended |
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Jun. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement, Policy | FAIR VALUE MEASUREMENTS The Company uses fair value to measure certain assets and liabilities on a recurring basis, primarily securities available-for-sale and derivatives. For assets measured at the lower of cost or fair value, the fair value measurement criteria may or may not be met during a reporting period and such measurements are therefore considered “nonrecurring” for purposes of disclosing our fair value measurements. Fair value is used on a nonrecurring basis to adjust carrying values for individually evaluated loans and leases and other real estate owned and also to record impairment on certain assets, such as goodwill, CDI, and other long-lived assets. For information regarding the valuation methodologies used to measure our assets recorded at fair value (under ASC Topic 820), and for estimating fair value for financial instruments not recorded at fair value (under ASC Topic 825, as amended by ASU 2016-01 and ASU 2018-03), see Note 1. Nature of Operations and Summary of Significant Accounting Policies, and Note 15. Fair Value Measurements, to the Consolidated Financial Statements of the Company's Form 10-K. The Company also holds SBIC investments measured at fair value using the NAV per share practical expedient that are not required to be classified in the fair value hierarchy. At June 30, 2022, the fair value of these investments was $57.3 million.
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Investment Securities (Tables) |
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Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of available-for-sale securities reconciliation | The following table presents amortized cost, gross unrealized gains and losses, and fair values of securities available-for-sale as of the dates indicated:
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Schedule of realized gains and losses on securities available-for-sale | The following table presents the amortized cost of securities sold with related gross realized gains, gross realized losses, and net realized (losses) gains for the years indicated:
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Unrealized losses on investment securities available-for-sale | The following tables present the gross unrealized losses and fair values of securities available-for-sale that were in unrealized loss positions as of the dates indicated:
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Schedule of held-to-maturity securities reconciliation | The following table presents amortized cost, allowance for credit losses, gross unrealized gains and losses, and fair values of securities held-to-maturity as of the date indicated:
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Debt Securities, Held-to-maturity, Allowance for Credit Loss | The following table presents the changes by major security type in our allowance for credit losses on securities held-to-maturity for the periods indicated:
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Debt Securities, Held-to-maturity, Credit Quality Indicator | The Company uses S&P, Moody's, Fitch, Kroll, and Egan Jones ratings as the credit quality indicators for its held-to-maturity securities. The following table presents our securities held-to-maturity portfolio by the lowest available credit rating as of the date indicated:
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Investment income | The following table presents the composition of our interest income on investment securities, including available-for-sale and held-to-maturity, for the periods indicated:
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Available-for-sale Investments Classified by Contractual Maturity Date | The following table presents the contractual maturities of our securities available-for-sale portfolio based on amortized cost and carrying value as of the date indicated:
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Held-to-Maturity Investments Classified by Contractual Maturity Date | The following table presents the contractual maturities of our securities held-to-maturity portfolio based on amortized cost and carrying value as of the date indicated:
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Loans and Leases (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of composition of loans portfolio | The following table summarizes the composition of our loans and leases held for investment as of the dates indicated:
____________________ (1) Includes land and acquisition and development loans of $116.3 million and $151.8 million at June 30, 2022 and December 31, 2021. (2) Excludes accrued interest receivable of $88.9 million and $80.3 million at June 30, 2022 and December 31, 2021, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets.
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Delinquent loans in loan portfolio | The following tables present an aging analysis of our loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated:
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Financing Receivable, Nonaccrual | The following table presents our nonaccrual and performing loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated:
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CV of loans held for investment by class by performing and nonperforming | The following tables present the credit risk rating categories for loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated. Classified loans and leases are those with a credit risk rating of either substandard or doubtful.
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Finance Receivable Investment And Interest Income, Nonaccrual | The following table presents our nonaccrual loans and leases by loan portfolio segment and class and by with and without an allowance recorded as of the date indicated and interest income recognized on nonaccrual loans and leases for the periods indicated:
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Finance Receivable, Loans By Origination Year | The following tables present our loans held for investment by loan portfolio segment and class, by credit quality indicator (internal risk ratings), and by year of origination (vintage year) as of the dates indicated:
(1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
______________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees.
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Troubled debt restructurings on financing receivables | The following table presents our troubled debt restructurings of loans held for investment by loan portfolio segment and class for the periods indicated:
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Lease Income of Direct Financing Leases | The following table provides the components of leases receivable income for the periods indicated:
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Assets and Liabilities, Lessor | The following table presents the components of leases receivable as of the dates indicated:
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Sales-type and Direct Financing Leases, Lease Receivable, Maturity | The following table presents maturities of leases receivable as of the date indicated:
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Finance Receivable, Allowance For Loan Losses | The following tables present a summary of the activity in the allowance for loan and lease losses on loans and leases held for investment by loan portfolio segment for the periods indicated:
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Collateral-dependent Finance Receivable | The following table summarizes collateral-dependent loans held for investment by collateral type as of the following dates:
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Allowance for credit losses on financing receivables | The following tables present a summary of the activity in the allowance for loan and lease losses and reserve for unfunded loan commitments for the periods indicated:
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Foreclosed Assets (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Real Estate Owned Net Covered and NonCovered Including Foreclosed Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other real estate and foreclosed assets | The following table summarizes foreclosed assets, net of the valuation allowance, as of the dates indicated:
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Other foreclosed assets rollforward | The following table presents the changes in foreclosed assets, net of the valuation allowance, for the period indicated:
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Goodwill and Other Intangible Assets (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intangible assets disclosure | The following table presents the changes in CDI and CRI and the related accumulated amortization for the periods indicated:
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Other Assets (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other Assets | The following table presents the detail of our other assets as of the dates indicated:
____________________ (1) At December 31, 2021, this was a net deferred tax liability of $19.6 million. The change to a deferred tax asset in 2022 was primarily attributable to the increase in unrealized losses on the Company's investment securities portfolio. (2) See Note 8. Leases for further details regarding the operating lease ROU assets. (3) See Note 10. Derivatives for information regarding equity warrants.
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Leases (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Occupancy Expense and Supplemental Cash Flow Information Related to Operating Leases | Our lease expense is a component of "Occupancy expense" on our condensed consolidated statements of earnings. The following table presents the components of lease expense for the periods indicated:
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Schedule of Cash Flow, Supplemental Disclosures | The following table presents supplemental cash flow information related to leases for the periods indicated:
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Schedule of Supplemental Balance Sheet Information Related to Operating Leases | The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated:
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Schedule of Maturities of Operating Leases | The following table presents the maturities of operating lease liabilities as of the date indicated:
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Schedule of Payments to be Received on Operating Leases | The following table presents the rental payments to be received on operating leases as of the date indicated:
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Borrowings and Subordinated Debentures (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of debt | The following table summarizes our borrowings as of the dates indicated:
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Schedule of Subordinated Borrowing | The following table summarizes the terms of each issuance of subordinated debt outstanding as of the dates indicated:
___________________ (1) Rates do not include the effects of discounts and issuance costs. (2) Net of unamortized issuance costs of $5.1 million. (3) Interest rate is fixed until May 1, 2026, when it changes to a floating rate and resets quarterly at a benchmark rate plus 252 basis points. (4) Denomination is in Euros with a value of €25.8 million. (5) Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions. (6) Interest rate will default to the last published or determined rate of LIBOR, and for Trust CS 2006-4, the Base Rate, defined as the greater of Prime and the federal funds rate, upon cessation of LIBOR and effectively converting these instruments to fixed rate, if not modified prior to June 30, 2023.
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Derivatives (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Derivative Instruments | The following table presents the U.S. dollar notional amounts and fair values of our derivative instruments included in the condensed consolidated balance sheets as of the dates indicated:
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Commitments and Contingencies (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments disclosure | The following table presents a summary of commitments described below as of the dates indicated:
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Other Commitments | The following table presents the years in which commitments are expected to be paid for our commitments to contribute capital to SBICs and CRA-related loan pools as of the date indicated:
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Fair Value Measurements (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value, assets measured on recurring basis | The following tables present information on the assets and liabilities measured and recorded at fair value on a recurring basis as of the dates indicated:
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Fair value, assets and liabilities measured on nonrecurring basis, valuation techniques | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value inputs, assets, quantitative information | The following table presents information about quantitative inputs and assumptions used in the modified Black-Scholes option pricing model to determine the fair value for our Level 3 equity warrants measured at fair value on a recurring basis as of the date indicated:
____________________ (1) Unobservable inputs for equity warrants were weighted by the relative fair values of the instruments. The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis as of the date indicated:
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Fair value, assets measured on recurring basis, significant unobservable inputs (level 3) reconciliation | The following table summarizes activity for our Level 3 private label commercial MBS available-for-sale and equity warrants measured at fair value on a recurring basis for the period indicated:
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Assets carried at fair value on a nonrecurring basis | The following tables present assets measured at fair value on a non-recurring basis as of the dates indicated:
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Net losses (gains) on nonrecurring assets | The following table presents losses recognized on assets measured on a nonrecurring basis for the periods indicated:
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Fair value, by balance sheet grouping | The following tables present carrying amounts and estimated fair values of certain financial instruments as of the dates indicated:
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Earnings (Loss) Per Share (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income per share | The following table presents the computations of basic and diluted net earnings per common share for the periods indicated:
________________________ (1) Represents cash dividends paid to holders of unvested restricted stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any.
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Revenue From Contracts With Customers (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue From Contracts With Customers [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue From Contracts With Customers | As illustrated here, substantially all of our revenue is specifically excluded from the scope of ASC Topic 606.
The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated:
The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated:
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Contract with Customer, Asset and Liability | The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers as of the dates indicated:
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Recently Issued Accounting Standards (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Recently Issued Accounting Standards [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of New Accounting Pronouncements and Changes in Accounting Principles |
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Organization - Narrative (Details) $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2022
USD ($)
bank_branch
|
Jun. 30, 2021
USD ($)
|
|
Business Acquisition [Line Items] | ||
Transfer of securities available-for-sale to held-to-maturity | $ | $ 2,260,407 | $ 0 |
CALIFORNIA | ||
Business Acquisition [Line Items] | ||
Retail branch locations | 69 | |
NORTH CAROLINA | ||
Business Acquisition [Line Items] | ||
Retail branch locations | 1 | |
COLORADO | ||
Business Acquisition [Line Items] | ||
Retail branch locations | 1 |
Restricted Cash Balances - Narrative (Details) - USD ($) $ in Millions |
Jun. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Restricted Cash [Abstract] | ||
Restricted Cash and Cash Equivalents | $ 0.0 | $ 0.0 |
Pledged Cash for Derivative Contracts | $ 2.0 | $ 2.0 |
Investment Securities - Securities Available for Sale (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | $ 5,157 | $ 163,035 |
Gross Unrealized Losses | 595,510 | 72,095 |
Fair Value | 6,780,648 | 10,694,458 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 7,371,001 | 10,603,518 |
Agency residential MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 901 | 8,866 |
Gross Unrealized Losses | 321,670 | 32,649 |
Fair Value | 2,577,715 | 2,898,210 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 2,898,484 | 2,921,993 |
Agency commercial MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 849 | 37,664 |
Gross Unrealized Losses | 44,711 | 9,213 |
Fair Value | 976,221 | 1,688,967 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 1,020,083 | 1,660,516 |
Agency residential CMOs | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 109 | 22,288 |
Gross Unrealized Losses | 41,308 | 5,870 |
Fair Value | 803,309 | 1,038,134 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 844,508 | 1,021,716 |
Municipal securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 3,219 | 75,192 |
Gross Unrealized Losses | 45,459 | 7,973 |
Fair Value | 700,605 | 2,315,968 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 742,845 | 2,248,749 |
U.S. Treasury securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 0 | 1,641 |
Gross Unrealized Losses | 74,965 | 8,298 |
Fair Value | 696,054 | 966,898 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 771,019 | 973,555 |
Corporate debt securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 75 | 13,774 |
Gross Unrealized Losses | 19,080 | 757 |
Fair Value | 369,461 | 527,094 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 388,466 | 514,077 |
Collateralized loan obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 0 | 396 |
Gross Unrealized Losses | 13,064 | 444 |
Fair Value | 352,290 | 385,362 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 365,354 | 385,410 |
Private label residential CMOs | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 0 | 1,857 |
Gross Unrealized Losses | 32,052 | 3,291 |
Fair Value | 216,103 | 264,417 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 248,155 | 265,851 |
Asset-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 4 | 484 |
Gross Unrealized Losses | 711 | 324 |
Fair Value | 32,647 | 129,547 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 33,354 | 129,387 |
Private label commercial MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 0 | 147 |
Gross Unrealized Losses | 1,895 | 3,244 |
Fair Value | 32,516 | 450,217 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 34,411 | 453,314 |
SBA securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 0 | 726 |
Gross Unrealized Losses | 595 | 32 |
Fair Value | 23,727 | 29,644 |
Debt Securities, Available-for-sale, Amortized Cost, Total | $ 24,322 | $ 28,950 |
Investment Securities - Realized Gains and Losses on Securities Available-for-Sale (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Investments, Debt and Equity Securities [Abstract] | ||||
Amortized cost of securities sold | $ 393,432 | $ 0 | $ 599,520 | $ 44,551 |
Gross realized gains | 1,544 | 0 | 2,734 | 101 |
Gross realized losses | (2,753) | 0 | (3,839) | 0 |
Net realized (losses) gains | $ (1,209) | $ 0 | $ (1,105) | $ 101 |
Investment Securities - Unrealized Losses on Securities Available-for-Sale (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 5,870,242 | $ 5,102,495 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 541,052 | 63,559 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 486,109 | 322,496 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 54,458 | 8,536 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 6,356,351 | 5,424,991 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 595,510 | 72,095 |
Agency residential MBS | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 2,232,774 | 2,502,536 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 288,563 | 31,670 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 262,847 | 57,329 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 33,107 | 979 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 2,495,621 | 2,559,865 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 321,670 | 32,649 |
Agency commercial MBS | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 851,935 | 440,938 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 39,376 | 5,066 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 41,199 | 106,745 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 5,335 | 4,147 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 893,134 | 547,683 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 44,711 | 9,213 |
Agency residential CMOs | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 707,516 | 216,445 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 29,892 | 3,757 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 88,546 | 67,340 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 11,416 | 2,113 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 796,062 | 283,785 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 41,308 | 5,870 |
Municipal securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 463,945 | 505,080 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 45,459 | 6,965 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 29,726 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 1,008 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 463,945 | 534,806 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 45,459 | 7,973 |
U.S. Treasury securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 696,054 | 628,767 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 74,965 | 8,298 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 696,054 | 628,767 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 74,965 | 8,298 |
Corporate debt securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 355,637 | 32,761 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 19,080 | 757 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 355,637 | 32,761 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 19,080 | 757 |
Collateralized loan obligations | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 269,865 | 137,619 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 9,256 | 374 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 82,425 | 43,730 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 3,808 | 70 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 352,290 | 181,349 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 13,064 | 444 |
Private label residential CMOs | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 216,103 | 201,988 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 32,052 | 3,291 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 216,103 | 201,988 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 32,052 | 3,291 |
Asset-backed securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 31,261 | 38,742 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 711 | 137 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 15,762 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 187 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 31,261 | 54,504 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 711 | 324 |
Private label commercial MBS | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 23,206 | 397,619 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,177 | 3,244 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 9,311 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 718 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 32,517 | 397,619 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 1,895 | 3,244 |
SBA securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 21,946 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 521 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,781 | 1,864 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 74 | 32 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 23,727 | 1,864 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | $ 595 | $ 32 |
Investment Securities - Contractual Maturities of Securities Available-for-Sale (Details) $ in Thousands |
Jun. 30, 2022
USD ($)
|
---|---|
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | $ 35,355 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 651,810 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 2,293,278 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 4,390,558 |
Total | 7,371,001 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 35,181 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 638,020 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 2,112,173 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (3,995,274) |
Total | 6,780,648 |
Agency residential MBS | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 28 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 6,756 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 4,625 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 2,887,075 |
Total | 2,898,484 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 29 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 6,794 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 4,692 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (2,566,200) |
Total | 2,577,715 |
Agency commercial MBS | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 6,847 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 529,921 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 452,921 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 30,394 |
Total | 1,020,083 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 6,847 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 517,077 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 422,320 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (29,977) |
Total | 976,221 |
Agency residential CMOs | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 1,487 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 206,723 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 636,298 |
Total | 844,508 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 1,486 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 191,837 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (609,986) |
Total | 803,309 |
Municipal securities | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 17,625 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 85,139 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 394,484 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 245,597 |
Total | 742,845 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 17,639 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 84,751 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 355,007 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (243,208) |
Total | 700,605 |
U.S. Treasury securities | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 4,996 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 766,023 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 0 |
Total | 771,019 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 4,995 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 691,059 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | 0 |
Total | 696,054 |
Corporate debt securities | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 22,500 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 365,966 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 0 |
Total | 388,466 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 22,050 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 347,411 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | 0 |
Total | 369,461 |
Collateralized loan obligations | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 101,154 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 264,200 |
Total | 365,354 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 98,461 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (253,829) |
Total | 352,290 |
Private label residential CMOs | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 248,155 |
Total | 248,155 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (216,103) |
Total | 216,103 |
Asset-backed securities | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 1,382 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 31,972 |
Total | 33,354 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 1,386 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (31,261) |
Total | 32,647 |
Private label commercial MBS | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 4,004 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 30,407 |
Total | 34,411 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 3,890 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (28,626) |
Total | 32,516 |
SBA securities | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 1,855 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 6,007 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 16,460 |
Total | 24,322 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 1,781 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 5,862 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (16,084) |
Total | $ 23,727 |
Investment Securities - Securities Held-to-Maturity (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
|||
---|---|---|---|---|---|
Schedule of Held-to-maturity Securities [Line Items] | |||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | [1] | $ 2,261,867 | |||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | [1] | (1,500) | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 2,260,367 | [1] | $ 0 | ||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | [1] | 554 | |||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | [1] | (51,162) | |||
Debt Securities, Held-to-maturity, Fair Value | [1] | 2,209,759 | |||
Municipal securities | |||||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 1,241,664 | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | (140) | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 1,241,524 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 554 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (36,762) | ||||
Debt Securities, Held-to-maturity, Fair Value | 1,205,316 | ||||
Agency commercial MBS | |||||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 424,274 | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 0 | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 424,274 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (4,626) | ||||
Debt Securities, Held-to-maturity, Fair Value | 419,648 | ||||
Private label commercial MBS | |||||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 343,545 | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 0 | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 343,545 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (5,663) | ||||
Debt Securities, Held-to-maturity, Fair Value | 337,882 | ||||
U.S. Treasury securities | |||||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 182,751 | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | 0 | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 182,751 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (1,855) | ||||
Debt Securities, Held-to-maturity, Fair Value | 180,896 | ||||
Corporate debt securities | |||||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 69,633 | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | (1,360) | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss | 68,273 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (2,256) | ||||
Debt Securities, Held-to-maturity, Fair Value | 66,017 | ||||
Interest Receivable | $ 13,700 | ||||
|
Investment Securities - Securities Held-to-Maturity Allowance for Credit Losses (Details) $ in Thousands |
6 Months Ended |
---|---|
Jun. 30, 2022
USD ($)
| |
Schedule of Held-to-maturity Securities [Line Items] | |
Provision for Credit Losses | $ 1,500 |
Charge-offs | 0 |
Recoveries | 0 |
Allowance for Credit Losses, End of Period | 1,500 |
Municipal securities | |
Schedule of Held-to-maturity Securities [Line Items] | |
Provision for Credit Losses | 140 |
Charge-offs | 0 |
Recoveries | 0 |
Allowance for Credit Losses, End of Period | 140 |
Corporate debt securities | |
Schedule of Held-to-maturity Securities [Line Items] | |
Provision for Credit Losses | 1,360 |
Charge-offs | 0 |
Recoveries | 0 |
Allowance for Credit Losses, End of Period | $ 1,360 |
Investment Securities - Securities Held-to-Maturity Credit Quality Indicators (Details) $ in Thousands |
Jun. 30, 2022
USD ($)
|
|||
---|---|---|---|---|
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | $ 2,261,867 | [1] | ||
Standard & Poor's, AAA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 928,629 | |||
Standard & Poor's, AA+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 970,486 | |||
Standard & Poor's, AA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 178,341 | |||
Standard & Poor's, A Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 1,997 | |||
Standard & Poor's, A- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 23,196 | |||
Standard & Poor's, BBB Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 20,985 | |||
Standard & Poor's, No Credit Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 48,578 | |||
Standard & Poor's, AA- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 89,655 | |||
Municipal securities | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 1,241,664 | |||
Municipal securities | Standard & Poor's, AAA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 585,084 | |||
Municipal securities | Standard & Poor's, AA+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 363,461 | |||
Municipal securities | Standard & Poor's, AA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 178,341 | |||
Municipal securities | Standard & Poor's, A Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 1,997 | |||
Municipal securities | Standard & Poor's, A- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Municipal securities | Standard & Poor's, BBB Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Municipal securities | Standard & Poor's, No Credit Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 23,126 | |||
Municipal securities | Standard & Poor's, AA- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 89,655 | |||
Agency commercial MBS | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 424,274 | |||
Agency commercial MBS | Standard & Poor's, AAA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Agency commercial MBS | Standard & Poor's, AA+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 424,274 | |||
Agency commercial MBS | Standard & Poor's, AA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Agency commercial MBS | Standard & Poor's, A Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Agency commercial MBS | Standard & Poor's, A- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Agency commercial MBS | Standard & Poor's, BBB Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Agency commercial MBS | Standard & Poor's, No Credit Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Agency commercial MBS | Standard & Poor's, AA- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Private label commercial MBS | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 343,545 | |||
Private label commercial MBS | Standard & Poor's, AAA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 343,545 | |||
Private label commercial MBS | Standard & Poor's, AA+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Private label commercial MBS | Standard & Poor's, AA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Private label commercial MBS | Standard & Poor's, A Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Private label commercial MBS | Standard & Poor's, A- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Private label commercial MBS | Standard & Poor's, BBB Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Private label commercial MBS | Standard & Poor's, No Credit Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Private label commercial MBS | Standard & Poor's, AA- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
U.S. Treasury securities | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 182,751 | |||
U.S. Treasury securities | Standard & Poor's, AAA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
U.S. Treasury securities | Standard & Poor's, AA+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 182,751 | |||
U.S. Treasury securities | Standard & Poor's, AA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
U.S. Treasury securities | Standard & Poor's, A Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
U.S. Treasury securities | Standard & Poor's, A- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
U.S. Treasury securities | Standard & Poor's, BBB Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
U.S. Treasury securities | Standard & Poor's, No Credit Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
U.S. Treasury securities | Standard & Poor's, AA- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Corporate debt securities | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 69,633 | |||
Corporate debt securities | Standard & Poor's, AAA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Corporate debt securities | Standard & Poor's, AA+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Corporate debt securities | Standard & Poor's, AA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Corporate debt securities | Standard & Poor's, A Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 0 | |||
Corporate debt securities | Standard & Poor's, A- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 23,196 | |||
Corporate debt securities | Standard & Poor's, BBB Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 20,985 | |||
Corporate debt securities | Standard & Poor's, No Credit Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 25,452 | |||
Corporate debt securities | Standard & Poor's, AA- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | $ 0 | |||
|
Investment Securities - Securities Held-to-Maturity Contractual Maturities (Details) $ in Thousands |
Jun. 30, 2022
USD ($)
|
|||
---|---|---|---|---|
Debt Securities, Held-to-maturity, Maturity [Abstract] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Year One | $ 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year One through Five | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Rolling after One through Five Years | 905,135 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 1,356,732 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 2,261,867 | [1] | ||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 895,951 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 1,313,808 | |||
Debt Securities, Held-to-maturity, Fair Value | 2,209,759 | [1] | ||
Municipal securities | ||||
Debt Securities, Held-to-maturity, Maturity [Abstract] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year One through Five | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Rolling after One through Five Years | 286,105 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 955,559 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 1,241,664 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 283,530 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 921,786 | |||
Debt Securities, Held-to-maturity, Fair Value | 1,205,316 | |||
Agency commercial MBS | ||||
Debt Securities, Held-to-maturity, Maturity [Abstract] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year One through Five | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Rolling after One through Five Years | 400,499 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 23,775 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 424,274 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 396,316 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 23,332 | |||
Debt Securities, Held-to-maturity, Fair Value | 419,648 | |||
Private label commercial MBS | ||||
Debt Securities, Held-to-maturity, Maturity [Abstract] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year One through Five | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Rolling after One through Five Years | 35,780 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 307,765 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 343,545 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 35,209 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 302,673 | |||
Debt Securities, Held-to-maturity, Fair Value | 337,882 | |||
U.S. Treasury securities | ||||
Debt Securities, Held-to-maturity, Maturity [Abstract] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year One through Five | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Rolling after One through Five Years | 182,751 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 182,751 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 180,896 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 0 | |||
Debt Securities, Held-to-maturity, Fair Value | 180,896 | |||
Corporate debt securities | ||||
Debt Securities, Held-to-maturity, Maturity [Abstract] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year One through Five | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Rolling after One through Five Years | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 69,633 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 69,633 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 66,017 | |||
Debt Securities, Held-to-maturity, Fair Value | $ 66,017 | |||
|
Investment Securities - Interest Income on Investment Securities (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Investments, Debt and Equity Securities [Abstract] | ||||
Taxable interest | $ 44,467 | $ 25,206 | $ 89,109 | $ 47,176 |
Non-taxable interest | 8,180 | 8,493 | 16,699 | 16,571 |
Dividend income | 255 | 255 | 516 | 472 |
Total interest income on investment securities | $ 52,902 | $ 33,954 | $ 106,324 | $ 64,219 |
Investment Securities - Narrative (Details) - USD ($) $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Schedule of Held-to-maturity Securities [Line Items] | ||
Transfer of securities available-for-sale to held-to-maturity | $ 2,260,407 | $ 0 |
OCI, Debt Securities, Available-for-Sale, Transfer from Held-to-Maturity, Gain (Loss), before Adjustment and Tax | 218,300 | |
Held-to-maturity Securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | 619,400 | |
Available-for-sale Securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value | $ 2,200,000 |
Loans and Leases - Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Mar. 31, 2022 |
Dec. 31, 2021 |
Jun. 30, 2021 |
Mar. 31, 2021 |
Dec. 31, 2020 |
||||
---|---|---|---|---|---|---|---|---|---|---|
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||
Gross loans and leases held for investment | $ 26,608,541 | $ 23,026,308 | ||||||||
Deferred fees, net | (107,404) | (84,760) | ||||||||
Loans held for investment, net | 26,501,137 | 22,941,548 | $ 19,506,257 | |||||||
Allowance for loan and lease losses | (188,705) | $ (197,398) | (200,564) | (225,600) | $ (292,445) | $ (348,181) | ||||
Loans and leases, net | [1] | 26,312,432 | 22,740,984 | |||||||
Real Estate Mortgage | ||||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||
Gross loans and leases held for investment | 13,570,353 | 11,189,278 | ||||||||
Loans held for investment, net | 13,549,646 | 11,178,720 | 8,413,020 | |||||||
Allowance for loan and lease losses | (85,287) | (86,715) | (98,053) | (107,013) | (141,122) | (138,342) | ||||
Real Estate Construction and Land | ||||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||
Gross loans and leases held for investment | [2] | 4,059,965 | 3,491,340 | |||||||
Loans held for investment, net | 3,991,039 | 3,437,127 | 3,505,584 | |||||||
Allowance for loan and lease losses | (41,778) | (44,161) | (45,079) | (54,582) | (66,775) | (78,356) | ||||
Commercial | ||||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||
Gross loans and leases held for investment | 8,494,614 | 7,888,068 | ||||||||
Loans held for investment, net | 8,476,806 | 7,868,051 | 7,222,244 | |||||||
Allowance for loan and lease losses | (54,031) | (57,056) | (48,718) | (57,697) | (78,716) | (126,403) | ||||
Consumer | ||||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||
Gross loans and leases held for investment | 483,609 | 457,622 | ||||||||
Loans held for investment, net | 483,646 | 457,650 | 365,409 | |||||||
Allowance for loan and lease losses | (7,609) | $ (9,466) | (8,714) | $ (6,308) | $ (5,832) | $ (5,080) | ||||
Loans and Finance Receivables [Member] | ||||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||||
Interest Receivable | $ 88,900 | $ 80,300 | ||||||||
|
Loans and Leases - Aging Analysis of Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
Jun. 30, 2021 |
---|---|---|---|
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 26,501,137 | $ 22,941,548 | $ 19,506,257 |
Financing Receivable Recorded Investment Total Past Due | 104,648 | 73,508 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 26,396,489 | 22,868,040 | |
30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 66,581 | 55,042 | |
90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 38,067 | 18,466 | |
Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 13,549,646 | 11,178,720 | 8,413,020 |
Financing Receivable Recorded Investment Total Past Due | 52,076 | 57,714 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 13,497,570 | 11,121,006 | |
Real Estate Mortgage | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 27,770 | 45,812 | |
Real Estate Mortgage | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 24,306 | 11,902 | |
Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,991,039 | 3,437,127 | 3,505,584 |
Financing Receivable Recorded Investment Total Past Due | 38,765 | 9,494 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 3,952,274 | 3,427,633 | |
Real Estate Construction and Land | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 26,288 | 7,271 | |
Real Estate Construction and Land | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 12,477 | 2,223 | |
Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 8,476,806 | 7,868,051 | 7,222,244 |
Financing Receivable Recorded Investment Total Past Due | 11,891 | 5,020 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 8,464,915 | 7,863,031 | |
Commercial | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 10,812 | 955 | |
Commercial | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 1,079 | 4,065 | |
Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 483,646 | 457,650 | $ 365,409 |
Financing Receivable Recorded Investment Total Past Due | 1,916 | 1,280 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 481,730 | 456,370 | |
Consumer | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 1,711 | 1,004 | |
Consumer | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 205 | 276 | |
Asset-based | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,068,112 | 4,075,477 | |
Financing Receivable Recorded Investment Total Past Due | 441 | 464 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 5,067,671 | 4,075,013 | |
Asset-based | Commercial | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 0 | 0 | |
Asset-based | Commercial | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 441 | 464 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,179,190 | 2,320,593 | |
Financing Receivable Recorded Investment Total Past Due | 0 | 0 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 2,179,190 | 2,320,593 | |
Venture Capital Loans | Commercial | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 0 | 0 | |
Venture Capital Loans | Commercial | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 0 | 0 | |
Other Commercial | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,229,504 | 1,471,981 | |
Financing Receivable Recorded Investment Total Past Due | 11,450 | 4,556 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 1,218,054 | 1,467,425 | |
Other Commercial | Commercial | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 10,812 | 955 | |
Other Commercial | Commercial | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 638 | 3,601 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 837,423 | 832,591 | |
Financing Receivable Recorded Investment Total Past Due | 0 | 0 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 837,423 | 832,591 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 0 | 0 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 0 | 0 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,153,616 | 2,604,536 | |
Financing Receivable Recorded Investment Total Past Due | 38,765 | 9,494 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 3,114,851 | 2,595,042 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 26,288 | 7,271 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 12,477 | 2,223 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,670,515 | 3,762,299 | |
Financing Receivable Recorded Investment Total Past Due | 15,204 | 7,543 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 3,655,311 | 3,754,756 | |
Commercial | Real Estate Mortgage | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 13,345 | 5,307 | |
Commercial | Real Estate Mortgage | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 1,859 | 2,236 | |
Residential Real Estate [Member] | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 9,879,131 | 7,416,421 | |
Financing Receivable Recorded Investment Total Past Due | 36,872 | 50,171 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 9,842,259 | 7,366,250 | |
Residential Real Estate [Member] | Real Estate Mortgage | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 14,425 | 40,505 | |
Residential Real Estate [Member] | Real Estate Mortgage | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | $ 22,447 | $ 9,666 |
Loans and Leases - Nonaccrual and Performing Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
Jun. 30, 2021 |
---|---|---|---|
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | $ 78,527 | $ 61,174 | $ 56,803 |
Loans held for investment, net | 26,501,137 | 22,941,548 | 19,506,257 |
Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 56,053 | 39,832 | 38,198 |
Loans held for investment, net | 13,549,646 | 11,178,720 | 8,413,020 |
Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 13,287 | 4,715 | 2,218 |
Loans held for investment, net | 3,991,039 | 3,437,127 | 3,505,584 |
Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 8,964 | 16,213 | 16,027 |
Loans held for investment, net | 8,476,806 | 7,868,051 | 7,222,244 |
Consumer | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 223 | 414 | 360 |
Loans held for investment, net | 483,646 | 457,650 | $ 365,409 |
Performing | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 26,422,610 | 22,880,374 | |
Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 13,493,593 | 11,138,888 | |
Performing | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 3,977,752 | 3,432,412 | |
Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 8,467,842 | 7,851,838 | |
Performing | Consumer | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 483,423 | 457,236 | |
Asset-based | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 1,189 | 1,464 | |
Loans held for investment, net | 5,068,112 | 4,075,477 | |
Asset-based | Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 5,066,923 | 4,074,013 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 3,120 | 2,799 | |
Loans held for investment, net | 2,179,190 | 2,320,593 | |
Venture Capital Loans | Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 2,176,070 | 2,317,794 | |
Other Commercial | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 4,655 | 11,950 | |
Loans held for investment, net | 1,229,504 | 1,471,981 | |
Other Commercial | Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 1,224,849 | 1,460,031 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 0 | 0 | |
Loans held for investment, net | 837,423 | 832,591 | |
Commercial Real Estate Construction Loan Receivable | Performing | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 837,423 | 832,591 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 13,287 | 4,715 | |
Loans held for investment, net | 3,153,616 | 2,604,536 | |
Residential Real Estate Construction Financing Receivable | Performing | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 3,140,329 | 2,599,821 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 28,529 | 27,540 | |
Loans held for investment, net | 3,670,515 | 3,762,299 | |
Commercial | Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 3,641,986 | 3,734,759 | |
Residential Real Estate [Member] | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 27,524 | 12,292 | |
Loans held for investment, net | 9,879,131 | 7,416,421 | |
Residential Real Estate [Member] | Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | $ 9,851,607 | $ 7,404,129 |
Loans and Leases - Credit Risk Rating Categories for Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
Jun. 30, 2021 |
---|---|---|---|
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 26,501,137 | $ 22,941,548 | $ 19,506,257 |
Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 13,549,646 | 11,178,720 | 8,413,020 |
Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,991,039 | 3,437,127 | 3,505,584 |
Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 8,476,806 | 7,868,051 | 7,222,244 |
Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 483,646 | 457,650 | $ 365,409 |
Classified | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 104,264 | 116,104 | |
Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 78,646 | 79,906 | |
Classified | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 13,287 | 4,715 | |
Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 12,032 | 31,044 | |
Classified | Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 299 | 439 | |
Special Mention | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 480,261 | 391,611 | |
Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 176,724 | 211,657 | |
Special Mention | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 195,102 | 69,447 | |
Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 103,043 | 108,666 | |
Special Mention | Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,392 | 1,841 | |
Pass | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 25,916,612 | 22,433,833 | |
Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 13,294,276 | 10,887,157 | |
Pass | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,782,650 | 3,362,965 | |
Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 8,361,731 | 7,728,341 | |
Pass | Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 477,955 | 455,370 | |
Asset-based | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,068,112 | 4,075,477 | |
Asset-based | Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,189 | 4,591 | |
Asset-based | Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 54,131 | 78,305 | |
Asset-based | Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,012,792 | 3,992,581 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,179,190 | 2,320,593 | |
Venture Capital Loans | Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,116 | 4,794 | |
Venture Capital Loans | Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 37,831 | 14,833 | |
Venture Capital Loans | Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,138,243 | 2,300,966 | |
Other Commercial | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,229,504 | 1,471,981 | |
Other Commercial | Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 7,727 | 21,659 | |
Other Commercial | Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 11,081 | 15,528 | |
Other Commercial | Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,210,696 | 1,434,794 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 837,423 | 832,591 | |
Commercial Real Estate Construction Loan Receivable | Classified | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 0 | 0 | |
Commercial Real Estate Construction Loan Receivable | Special Mention | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 155,745 | 67,727 | |
Commercial Real Estate Construction Loan Receivable | Pass | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 681,678 | 764,864 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,153,616 | 2,604,536 | |
Residential Real Estate Construction Financing Receivable | Classified | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 13,287 | 4,715 | |
Residential Real Estate Construction Financing Receivable | Special Mention | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 39,357 | 1,720 | |
Residential Real Estate Construction Financing Receivable | Pass | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,100,972 | 2,598,101 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,670,515 | 3,762,299 | |
Commercial | Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 46,203 | 62,206 | |
Commercial | Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 157,476 | 191,809 | |
Commercial | Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,466,836 | 3,508,284 | |
Residential Real Estate [Member] | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 9,879,131 | 7,416,421 | |
Residential Real Estate [Member] | Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 32,443 | 17,700 | |
Residential Real Estate [Member] | Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 19,248 | 19,848 | |
Residential Real Estate [Member] | Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 9,827,440 | 7,378,873 | |
Non Purchased Credit Impaired Loans and Leases | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 22,941,548 |
Loans and Leases - Nonaccrual Loans and Leases by Loan Portfolio Segment and Class (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
Dec. 31, 2021 |
|
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | $ 78,527 | $ 56,803 | $ 78,527 | $ 56,803 | $ 61,174 |
Financing Receivable, Nonaccrual, Interest Income | 21 | 1,954 | 459 | 4,074 | |
Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 56,053 | 38,198 | 56,053 | 38,198 | 39,832 |
Financing Receivable, Nonaccrual, Interest Income | 14 | 140 | 98 | 430 | |
Real Estate Construction and Land | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 13,287 | 2,218 | 13,287 | 2,218 | 4,715 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 8,964 | 16,027 | 8,964 | 16,027 | 16,213 |
Financing Receivable, Nonaccrual, Interest Income | 7 | 1,814 | 361 | 3,644 | |
Consumer | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 223 | 360 | 223 | 360 | 414 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Finance Receivable Allowance | Consumer | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 223 | 360 | 223 | 360 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
No Finance Receivable Allowance | Consumer | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |||
Financing Receivable, Nonaccrual, No Allowance | 0 | 0 | 0 | 0 | |
Commercial | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 28,529 | 28,529 | 27,540 | ||
Financing Receivable, Nonaccrual, No Allowance | 28,463 | 31,991 | 28,463 | 31,991 | |
Commercial | Finance Receivable Allowance | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 66 | 74 | 66 | 74 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Commercial | No Finance Receivable Allowance | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | 14 | 140 | 98 | 430 | |
Residential Real Estate [Member] | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 27,524 | 27,524 | 12,292 | ||
Financing Receivable, Nonaccrual, No Allowance | 20,583 | 3,327 | 20,583 | 3,327 | |
Residential Real Estate [Member] | Finance Receivable Allowance | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 6,941 | 2,806 | 6,941 | 2,806 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Residential Real Estate [Member] | No Finance Receivable Allowance | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 0 | 0 | 0 | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | 284 | 0 | 284 | |
Commercial Real Estate Construction Loan Receivable | Finance Receivable Allowance | Real Estate Construction and Land | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 0 | 0 | 0 | 0 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |||
Commercial Real Estate Construction Loan Receivable | No Finance Receivable Allowance | Real Estate Construction and Land | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 13,287 | 13,287 | 4,715 | ||
Financing Receivable, Nonaccrual, No Allowance | 11,641 | 1,531 | 11,641 | 1,531 | |
Residential Real Estate Construction Financing Receivable | Finance Receivable Allowance | Real Estate Construction and Land | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 1,646 | 403 | 1,646 | 403 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Residential Real Estate Construction Financing Receivable | No Finance Receivable Allowance | Real Estate Construction and Land | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Asset-based | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 1,189 | 1,189 | 1,464 | ||
Financing Receivable, Nonaccrual, No Allowance | 441 | 489 | 441 | 489 | |
Asset-based | Finance Receivable Allowance | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 748 | 1,484 | 748 | 1,484 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Asset-based | No Finance Receivable Allowance | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Venture Capital Loans | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 3,120 | 3,120 | 2,799 | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | 0 | 0 | 0 | |
Venture Capital Loans | Finance Receivable Allowance | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 3,120 | 2,717 | 3,120 | 2,717 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Venture Capital Loans | No Finance Receivable Allowance | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |||
Other Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, No Allowance | 3,393 | 9,865 | 3,393 | 9,865 | |
Other Commercial | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 4,655 | 4,655 | $ 11,950 | ||
Other Commercial | Finance Receivable Allowance | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 1,262 | 1,472 | 1,262 | 1,472 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Other Commercial | No Finance Receivable Allowance | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | $ 7 | $ 1,814 | $ 361 | $ 3,644 |
Loans and Leases - Loans Held for Investment by Loan Portfolio Segment (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Mar. 31, 2022 |
Jun. 30, 2022 |
Dec. 31, 2021 |
Jun. 30, 2021 |
|
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | $ (26,501,137) | $ (22,941,548) | $ (19,506,257) | |
Allowance for Loan and Lease Losses, Write-offs | $ 10,715 | 6,033 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (12,598) | |||
Allowance for Loan Loss, Net Write offs | (1,883) | |||
Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (13,549,646) | (11,178,720) | (8,413,020) | |
Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (837,423) | (832,591) | ||
Allowance for Loan and Lease Losses, Write-offs | 775 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 775 | |||
Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,153,616) | (2,604,536) | ||
Allowance for Loan and Lease Losses, Write-offs | 7 | 7 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 7 | |||
Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (8,476,806) | (7,868,051) | (7,222,244) | |
Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (483,646) | (457,650) | $ (365,409) | |
Allowance for Loan and Lease Losses, Write-offs | 1,507 | 576 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (120) | |||
Allowance for Loan Loss, Net Write offs | 1,387 | |||
Revolving Credit Facility [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (5,784,295) | (5,526,869) | ||
Allowance for Loan and Lease Losses, Write-offs | 985 | 1,818 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (86) | |||
Allowance for Loan Loss, Net Write offs | 899 | |||
Revolving Credit Facility [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (11) | (18,190) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Revolving Credit Facility [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (325) | (28,804) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Revolving Credit Facility [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (10,478) | (6,335) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (1) | |||
Allowance for Loan Loss, Net Write offs | (1) | |||
Revolving Converted To Term Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (178,808) | (105,951) | ||
Allowance for Loan and Lease Losses, Write-offs | 2,650 | 66 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (446) | |||
Allowance for Loan Loss, Net Write offs | 2,204 | |||
Revolving Converted To Term Loan [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Revolving Converted To Term Loan [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (10,672) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Revolving Converted To Term Loan [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (18) | (19) | ||
Allowance for Loan and Lease Losses, Write-offs | 54 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 54 | |||
Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (4,715,373) | (7,258,473) | ||
Allowance for Loan and Lease Losses, Write-offs | 2,027 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (28) | |||
Allowance for Loan Loss, Net Write offs | 1,999 | |||
Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (33,665) | (96,108) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (521,035) | (850,313) | ||
Allowance for Loan and Lease Losses, Write-offs | 7 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 7 | |||
Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (84,887) | (262,511) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (6,939,090) | (2,310,266) | ||
Allowance for Loan and Lease Losses, Write-offs | 265 | 200 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 265 | |||
Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (132,772) | (96,448) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (972,672) | (677,327) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 7 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (233,459) | (24,591) | ||
Allowance for Loan and Lease Losses, Write-offs | 185 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 185 | |||
Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,311,586) | (2,803,560) | ||
Allowance for Loan and Lease Losses, Write-offs | 965 | 23 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (169) | |||
Allowance for Loan Loss, Net Write offs | 796 | |||
Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (80,308) | (386,832) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (871,345) | (851,715) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (19,669) | (74,479) | ||
Allowance for Loan and Lease Losses, Write-offs | 654 | 22 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 654 | |||
Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,424,019) | (1,949,477) | ||
Allowance for Loan and Lease Losses, Write-offs | 1,146 | 338 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (64) | |||
Allowance for Loan Loss, Net Write offs | 1,082 | |||
Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (368,548) | (152,444) | ||
Allowance for Loan and Lease Losses, Write-offs | 775 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 775 | |||
Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (622,539) | (163,950) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (61,384) | (35,739) | ||
Allowance for Loan and Lease Losses, Write-offs | 156 | 338 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (27) | |||
Allowance for Loan Loss, Net Write offs | 129 | |||
Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,652,546) | (1,305,834) | ||
Allowance for Loan and Lease Losses, Write-offs | 753 | 1,488 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (447) | |||
Allowance for Loan Loss, Net Write offs | 306 | |||
Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (144,081) | (68,447) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (165,271) | (17,785) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (29,536) | (21,782) | ||
Allowance for Loan and Lease Losses, Write-offs | 270 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (13) | |||
Allowance for Loan Loss, Net Write offs | 257 | |||
Prior [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,495,420) | (1,681,118) | ||
Allowance for Loan and Lease Losses, Write-offs | 1,924 | 2,100 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (11,358) | |||
Allowance for Loan Loss, Net Write offs | (9,434) | |||
Prior [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (78,060) | (14,122) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Prior [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,079) | (3,970) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Prior [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (44,215) | (32,194) | ||
Allowance for Loan and Lease Losses, Write-offs | 188 | 216 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (79) | |||
Allowance for Loan Loss, Net Write offs | 109 | |||
1-2 High Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,408,281) | (2,316,130) | ||
1-2 High Pass [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (660) | (702) | ||
1-2 High Pass [Member] | Revolving Credit Facility [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,055,745) | (982,446) | ||
1-2 High Pass [Member] | Revolving Credit Facility [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Revolving Credit Facility [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Revolving Credit Facility [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (614) | (646) | ||
1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (17,039) | (51,188) | ||
1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (196,652) | (369,274) | ||
1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (36) | ||
1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (294,327) | (135,778) | ||
1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (34) | (11) | ||
1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (94,876) | (268,730) | ||
1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (9) | 0 | ||
1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (254,161) | (179,933) | ||
1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (5) | ||
1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (179,453) | (90,210) | ||
1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3) | (4) | ||
1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (316,028) | (238,571) | ||
1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
3-4 Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (23,508,331) | (20,117,703) | ||
3-4 Pass [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (681,678) | (764,864) | ||
3-4 Pass [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,100,972) | (2,598,101) | ||
3-4 Pass [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (477,295) | (454,668) | ||
3-4 Pass [Member] | Revolving Credit Facility [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (4,715,895) | (4,511,074) | ||
3-4 Pass [Member] | Revolving Credit Facility [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (11) | (18,190) | ||
3-4 Pass [Member] | Revolving Credit Facility [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (325) | (28,804) | ||
3-4 Pass [Member] | Revolving Credit Facility [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (9,770) | (5,689) | ||
3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (154,345) | (46,987) | ||
3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (10,672) | ||
3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (4,497,574) | (6,869,712) | ||
3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (33,665) | (96,108) | ||
3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (505,330) | (849,188) | ||
3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (83,997) | (261,678) | ||
3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (6,574,638) | (2,152,244) | ||
3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (132,772) | (96,448) | ||
3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (962,146) | (672,864) | ||
3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (230,843) | (24,195) | ||
3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,181,534) | (2,390,507) | ||
3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (80,308) | (386,832) | ||
3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (845,779) | (851,127) | ||
3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (19,477) | (73,860) | ||
3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,041,586) | (1,667,175) | ||
3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (368,548) | (152,444) | ||
3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (621,951) | (163,950) | ||
3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (59,951) | (35,623) | ||
3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,291,499) | (1,134,114) | ||
3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (57,553) | (720) | ||
3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (165,271) | (17,526) | ||
3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (29,422) | (21,707) | ||
3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,051,260) | (1,345,890) | ||
3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (8,843) | (14,122) | ||
3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (820) | (3,970) | ||
3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (43,835) | (31,916) | ||
5 Special Mention [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (480,261) | (391,611) | ||
5 Special Mention [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (155,745) | (67,727) | ||
5 Special Mention [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (39,357) | (1,720) | ||
5 Special Mention [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (5,392) | (1,841) | ||
5 Special Mention [Member] | Revolving Credit Facility [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (10,511) | (13,597) | ||
5 Special Mention [Member] | Revolving Credit Facility [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Revolving Credit Facility [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Revolving Credit Facility [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (93) | 0 | ||
5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,835) | (4,039) | ||
5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (18,788) | (12,924) | ||
5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (16,070) | (276) | ||
5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (890) | (797) | ||
5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (40,889) | (13,238) | ||
5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,421) | (1,185) | ||
5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,401) | (363) | ||
5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (25,791) | (126,180) | ||
5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (19,866) | 0 | ||
5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (183) | (496) | ||
5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (125,249) | (91,598) | ||
5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,433) | 0 | ||
5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (147,871) | (74,684) | ||
5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (86,528) | (67,727) | ||
5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (259) | ||
5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (87) | (50) | ||
5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (107,327) | (55,351) | ||
5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (69,217) | 0 | ||
5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (305) | (135) | ||
6-8 Classified [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (104,264) | (116,104) | ||
6-8 Classified [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (13,287) | (4,715) | ||
6-8 Classified [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (299) | (439) | ||
6-8 Classified [Member] | Revolving Credit Facility [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,144) | (19,752) | ||
6-8 Classified [Member] | Revolving Credit Facility [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Revolving Credit Facility [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Revolving Credit Facility [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1) | 0 | ||
6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,589) | (3,737) | ||
6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (18) | (19) | ||
6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,359) | (6,563) | ||
6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (365) | (849) | ||
6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (29,236) | (9,006) | ||
6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (7,105) | (3,278) | ||
6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (181) | (22) | ||
6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (9,385) | (18,143) | ||
6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (5,700) | (588) | ||
6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (123) | ||
6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,023) | (10,771) | ||
6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (588) | 0 | ||
6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (111) | ||
6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (33,723) | (6,826) | ||
6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (24) | (21) | ||
6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (20,805) | (41,306) | ||
6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (259) | 0 | ||
6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (75) | (143) | ||
Commercial | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,670,515) | (3,762,299) | ||
Allowance for Loan and Lease Losses, Write-offs | 965 | 1,671 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (6,081) | |||
Allowance for Loan Loss, Net Write offs | (5,116) | |||
Commercial | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (108,545) | (51,808) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Commercial | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (10,411) | (11,977) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Commercial | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (282,678) | (500,187) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Commercial | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (500,797) | (546,436) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Commercial | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (534,185) | (434,450) | ||
Allowance for Loan and Lease Losses, Write-offs | 189 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 189 | |||
Commercial | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (366,076) | (668,437) | ||
Allowance for Loan and Lease Losses, Write-offs | 168 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 168 | |||
Commercial | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (579,417) | (508,786) | ||
Allowance for Loan and Lease Losses, Write-offs | 344 | 1,488 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (8) | |||
Allowance for Loan Loss, Net Write offs | 336 | |||
Commercial | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,288,406) | (1,040,218) | ||
Allowance for Loan and Lease Losses, Write-offs | 264 | 183 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (6,073) | |||
Allowance for Loan Loss, Net Write offs | (5,809) | |||
Commercial | 1-2 High Pass [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (91,652) | (90,046) | ||
Commercial | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (27,677) | (3) | ||
Commercial | 1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Commercial | 1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (561) | ||
Commercial | 1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,156) | (9,148) | ||
Commercial | 1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (7,553) | (32,304) | ||
Commercial | 1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (7,041) | (8,289) | ||
Commercial | 1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (6,031) | (6,248) | ||
Commercial | 1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (40,194) | (33,493) | ||
Commercial | 3-4 Pass [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,375,184) | (3,418,238) | ||
Commercial | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (80,868) | (51,805) | ||
Commercial | 3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (10,411) | (11,977) | ||
Commercial | 3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (282,678) | (499,626) | ||
Commercial | 3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (497,641) | (531,989) | ||
Commercial | 3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (522,878) | (321,728) | ||
Commercial | 3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (283,379) | (578,436) | ||
Commercial | 3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (493,351) | (489,727) | ||
Commercial | 3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,203,978) | (932,950) | ||
Commercial | 5 Special Mention [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (157,476) | (191,809) | ||
Commercial | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Commercial | 5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Commercial | 5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Commercial | 5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (4,811) | ||
Commercial | 5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,278) | (63,381) | ||
Commercial | 5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (73,578) | (76,372) | ||
Commercial | 5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (50,678) | (6,533) | ||
Commercial | 5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (29,942) | (40,712) | ||
Commercial | 6-8 Classified [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (46,203) | (62,206) | ||
Commercial | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Commercial | 6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Commercial | 6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Commercial | 6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (488) | ||
Commercial | 6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (476) | (17,037) | ||
Commercial | 6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,078) | (5,340) | ||
Commercial | 6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (29,357) | (6,278) | ||
Commercial | 6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (14,292) | (33,063) | ||
Residential Real Estate [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (9,879,131) | (7,416,421) | ||
Allowance for Loan and Lease Losses, Write-offs | 163 | 35 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (686) | |||
Allowance for Loan Loss, Net Write offs | (523) | |||
Residential Real Estate [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (132,295) | (119,930) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Residential Real Estate [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (344) | (427) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (301) | |||
Allowance for Loan Loss, Net Write offs | (301) | |||
Residential Real Estate [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,122,825) | (4,508,103) | ||
Allowance for Loan and Lease Losses, Write-offs | 28 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (28) | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Residential Real Estate [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (4,170,276) | (661,573) | ||
Allowance for Loan and Lease Losses, Write-offs | 80 | 34 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 80 | |||
Residential Real Estate [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (595,063) | (644,599) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 1 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Residential Real Estate [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (653,513) | (667,526) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Residential Real Estate [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (511,486) | (559,611) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Residential Real Estate [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (693,329) | (254,652) | ||
Allowance for Loan and Lease Losses, Write-offs | 55 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (357) | |||
Allowance for Loan Loss, Net Write offs | (302) | |||
Residential Real Estate [Member] | 1-2 High Pass [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (280,924) | (286,511) | ||
Residential Real Estate [Member] | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,000) | (28,115) | ||
Residential Real Estate [Member] | 1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Residential Real Estate [Member] | 1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (95,016) | ||
Residential Real Estate [Member] | 1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (99,724) | (29,339) | ||
Residential Real Estate [Member] | 1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (22,983) | (57,874) | ||
Residential Real Estate [Member] | 1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (57,363) | (47,688) | ||
Residential Real Estate [Member] | 1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (55,435) | (11,776) | ||
Residential Real Estate [Member] | 1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (44,419) | (16,703) | ||
Residential Real Estate [Member] | 3-4 Pass [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (9,546,516) | (7,092,362) | ||
Residential Real Estate [Member] | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (131,295) | (91,655) | ||
Residential Real Estate [Member] | 3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (117) | (156) | ||
Residential Real Estate [Member] | 3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,118,273) | (4,405,055) | ||
Residential Real Estate [Member] | 3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (4,045,948) | (623,207) | ||
Residential Real Estate [Member] | 3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (568,720) | (573,718) | ||
Residential Real Estate [Member] | 3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (583,160) | (616,515) | ||
Residential Real Estate [Member] | 3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (452,990) | (547,531) | ||
Residential Real Estate [Member] | 3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (646,013) | (234,525) | ||
Residential Real Estate [Member] | 5 Special Mention [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (19,248) | (19,848) | ||
Residential Real Estate [Member] | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (160) | ||
Residential Real Estate [Member] | 5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Residential Real Estate [Member] | 5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,828) | (2,871) | ||
Residential Real Estate [Member] | 5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (4,279) | (3,810) | ||
Residential Real Estate [Member] | 5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (151) | (13,007) | ||
Residential Real Estate [Member] | 5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (12,990) | 0 | ||
Residential Real Estate [Member] | 5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Residential Real Estate [Member] | 5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Residential Real Estate [Member] | 6-8 Classified [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (32,443) | (17,700) | ||
Residential Real Estate [Member] | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Residential Real Estate [Member] | 6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (227) | (271) | ||
Residential Real Estate [Member] | 6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,724) | (5,161) | ||
Residential Real Estate [Member] | 6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (20,325) | (5,217) | ||
Residential Real Estate [Member] | 6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,209) | 0 | ||
Residential Real Estate [Member] | 6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (3,323) | ||
Residential Real Estate [Member] | 6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,061) | (304) | ||
Residential Real Estate [Member] | 6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,897) | (3,424) | ||
Asset-based | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (5,068,112) | (4,075,477) | ||
Allowance for Loan and Lease Losses, Write-offs | 232 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (719) | |||
Allowance for Loan Loss, Net Write offs | (487) | |||
Asset-based | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,125,698) | (2,715,753) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (28) | |||
Allowance for Loan Loss, Net Write offs | (28) | |||
Asset-based | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (128,269) | (60,731) | ||
Allowance for Loan and Lease Losses, Write-offs | 232 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 232 | |||
Asset-based | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (563,458) | (381,045) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Asset-based | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (414,503) | (144,655) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Asset-based | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (113,489) | (286,835) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Asset-based | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (278,455) | (182,460) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Asset-based | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (163,230) | (80,290) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Asset-based | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (281,010) | (223,708) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (691) | |||
Allowance for Loan Loss, Net Write offs | (691) | |||
Asset-based | 1-2 High Pass [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,824,058) | (1,531,301) | ||
Asset-based | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (868,141) | (706,656) | ||
Asset-based | 1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (17,039) | (50,495) | ||
Asset-based | 1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (180,149) | (138,836) | ||
Asset-based | 1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (166,488) | (72,725) | ||
Asset-based | 1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (53,533) | (178,291) | ||
Asset-based | 1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (189,543) | (123,947) | ||
Asset-based | 1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (117,975) | (71,940) | ||
Asset-based | 1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (231,190) | (188,411) | ||
Asset-based | 3-4 Pass [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,188,734) | (2,461,280) | ||
Asset-based | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,248,953) | (1,992,677) | ||
Asset-based | 3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (106,745) | (6,158) | ||
Asset-based | 3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (383,309) | (242,209) | ||
Asset-based | 3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (248,015) | (71,930) | ||
Asset-based | 3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (59,956) | (59,748) | ||
Asset-based | 3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (56,192) | (45,375) | ||
Asset-based | 3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (36,185) | (8,350) | ||
Asset-based | 3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (49,379) | (34,833) | ||
Asset-based | 5 Special Mention [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (54,131) | (78,305) | ||
Asset-based | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (8,604) | (12,393) | ||
Asset-based | 5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,737) | (3,978) | ||
Asset-based | 5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Asset-based | 5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Asset-based | 5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (48,796) | ||
Asset-based | 5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (32,720) | (13,138) | ||
Asset-based | 5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (9,070) | 0 | ||
Asset-based | 5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Asset-based | 6-8 Classified [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,189) | (4,591) | ||
Asset-based | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (4,027) | ||
Asset-based | 6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (748) | (100) | ||
Asset-based | 6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Asset-based | 6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Asset-based | 6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Asset-based | 6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Asset-based | 6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Asset-based | 6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (441) | (464) | ||
Venture Capital Loans | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,179,190) | (2,320,593) | ||
Venture Capital Loans | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,179,190) | (2,320,593) | ||
Allowance for Loan and Lease Losses, Write-offs | 620 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (404) | |||
Allowance for Loan Loss, Net Write offs | 216 | |||
Venture Capital Loans | Revolving Credit Facility [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,836,795) | (1,943,854) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Venture Capital Loans | Revolving Converted To Term Loan [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (26,382) | (10,502) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Venture Capital Loans | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (62,421) | (239,047) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Venture Capital Loans | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (195,200) | (63,060) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Venture Capital Loans | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (22,850) | (46,506) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (127) | |||
Allowance for Loan Loss, Net Write offs | (127) | |||
Venture Capital Loans | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (25,217) | (9,241) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (37) | |||
Allowance for Loan Loss, Net Write offs | (37) | |||
Venture Capital Loans | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (5,794) | (1,610) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (158) | |||
Allowance for Loan Loss, Net Write offs | (158) | |||
Venture Capital Loans | Prior [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (4,531) | (6,773) | ||
Allowance for Loan and Lease Losses, Write-offs | 620 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (82) | |||
Allowance for Loan Loss, Net Write offs | 538 | |||
Venture Capital Loans | 1-2 High Pass [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (155,277) | (230,829) | ||
Venture Capital Loans | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (137,261) | (228,820) | ||
Venture Capital Loans | 1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Venture Capital Loans | 1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (16,009) | 0 | ||
Venture Capital Loans | 1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (1,999) | ||
Venture Capital Loans | 1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,999) | 0 | ||
Venture Capital Loans | 1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Venture Capital Loans | 1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (4) | ||
Venture Capital Loans | 1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (8) | (14) | ||
Venture Capital Loans | 3-4 Pass [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,982,966) | (2,070,137) | ||
Venture Capital Loans | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,697,801) | (1,715,057) | ||
Venture Capital Loans | 3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (25,021) | (8,202) | ||
Venture Capital Loans | 3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (46,412) | (229,567) | ||
Venture Capital Loans | 3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (164,767) | (58,283) | ||
Venture Capital Loans | 3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (18,740) | (46,007) | ||
Venture Capital Loans | 3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (21,192) | (7,241) | ||
Venture Capital Loans | 3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (4,510) | (1,614) | ||
Venture Capital Loans | 3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (4,523) | (4,166) | ||
Venture Capital Loans | 5 Special Mention [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (37,831) | (14,833) | ||
Venture Capital Loans | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,737) | (17) | ||
Venture Capital Loans | 5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Venture Capital Loans | 5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (8,980) | ||
Venture Capital Loans | 5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (29,958) | (2,778) | ||
Venture Capital Loans | 5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,111) | (499) | ||
Venture Capital Loans | 5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (4,025) | 0 | ||
Venture Capital Loans | 5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Venture Capital Loans | 5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (2,593) | ||
Venture Capital Loans | 6-8 Classified [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3,116) | (4,794) | ||
Venture Capital Loans | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (4) | (6) | ||
Venture Capital Loans | 6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,361) | (2,300) | ||
Venture Capital Loans | 6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (500) | ||
Venture Capital Loans | 6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (475) | 0 | ||
Venture Capital Loans | 6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Venture Capital Loans | 6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (2,000) | ||
Venture Capital Loans | 6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,284) | 0 | ||
Venture Capital Loans | 6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Other Commercial | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,229,504) | (1,471,981) | ||
Allowance for Loan and Lease Losses, Write-offs | 6,446 | 3,744 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (4,588) | |||
Allowance for Loan Loss, Net Write offs | 1,858 | |||
Other Commercial | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (570,820) | (642,195) | ||
Allowance for Loan and Lease Losses, Write-offs | 985 | 1,818 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (57) | |||
Allowance for Loan Loss, Net Write offs | 928 | |||
Other Commercial | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (13,384) | (11,623) | ||
Allowance for Loan and Lease Losses, Write-offs | 2,364 | 66 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (145) | |||
Allowance for Loan Loss, Net Write offs | 2,219 | |||
Other Commercial | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (44,404) | (421,159) | ||
Allowance for Loan and Lease Losses, Write-offs | 1,992 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 1,992 | |||
Other Commercial | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (319,411) | (96,176) | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 159 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | |||
Other Commercial | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (74,677) | (78,144) | ||
Allowance for Loan and Lease Losses, Write-offs | 122 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (42) | |||
Allowance for Loan Loss, Net Write offs | 80 | |||
Other Commercial | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (48,287) | (69,680) | ||
Allowance for Loan and Lease Losses, Write-offs | 47 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | |||
Allowance for Loan Loss, Net Write offs | 47 | |||
Other Commercial | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (53,731) | (47,523) | ||
Allowance for Loan and Lease Losses, Write-offs | 139 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (268) | |||
Allowance for Loan Loss, Net Write offs | (129) | |||
Other Commercial | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (104,790) | (105,481) | ||
Allowance for Loan and Lease Losses, Write-offs | 797 | 1,701 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (4,076) | |||
Allowance for Loan Loss, Net Write offs | $ (3,279) | |||
Other Commercial | 1-2 High Pass [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (55,710) | (176,741) | ||
Other Commercial | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (21,052) | (18,206) | ||
Other Commercial | 1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (693) | ||
Other Commercial | 1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (494) | (134,825) | ||
Other Commercial | 1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (24,925) | (22,556) | ||
Other Commercial | 1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (8,799) | (261) | ||
Other Commercial | 1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (214) | (4) | ||
Other Commercial | 1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (9) | (246) | ||
Other Commercial | 1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (217) | (50) | ||
Other Commercial | 3-4 Pass [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,154,986) | (1,258,053) | ||
Other Commercial | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (547,544) | (607,197) | ||
Other Commercial | 3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (12,051) | (9,822) | ||
Other Commercial | 3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (43,910) | (286,281) | ||
Other Commercial | 3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (292,506) | (73,328) | ||
Other Commercial | 3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (65,676) | (77,487) | ||
Other Commercial | 3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (47,213) | (67,591) | ||
Other Commercial | 3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (52,217) | (46,939) | ||
Other Commercial | 3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (93,869) | (89,408) | ||
Other Commercial | 5 Special Mention [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (11,081) | (15,528) | ||
Other Commercial | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (77) | (1,061) | ||
Other Commercial | 5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (98) | (61) | ||
Other Commercial | 5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Other Commercial | 5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (830) | (291) | ||
Other Commercial | 5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (202) | (1) | ||
Other Commercial | 5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (503) | (2,088) | ||
Other Commercial | 5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,508) | (115) | ||
Other Commercial | 5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (7,863) | (11,911) | ||
Other Commercial | 6-8 Classified [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (7,727) | (21,659) | ||
Other Commercial | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,147) | (15,731) | ||
Other Commercial | 6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,235) | (1,047) | ||
Other Commercial | 6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (53) | ||
Other Commercial | 6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,150) | (1) | ||
Other Commercial | 6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (395) | ||
Other Commercial | 6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (357) | (3) | ||
Other Commercial | 6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (3) | (223) | ||
Other Commercial | 6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | $ (2,841) | $ (4,212) |
Loans and Leases - Troubled Debt Restructurings of Loans Held for Investment by Loan Portfolio Segment (Details) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2022
USD ($)
contract
|
Jun. 30, 2021
USD ($)
contract
|
Jun. 30, 2022
USD ($)
contract
|
Jun. 30, 2021
USD ($)
contract
|
|
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 12 | 28 | 28 | 45 |
Pre-Modification Outstanding Recorded Investment | $ 3,613,000 | $ 18,974,000 | $ 4,991,000 | $ 54,754,000 |
Post-Modification Outstanding Recorded Investment | $ 3,613,000 | $ 18,974,000 | $ 4,686,000 | $ 34,160,000 |
Other Commercial | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Loans | contract | 2 | 2 | 2 | 2 |
Real Estate Mortgage | Commercial | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 0 | 1 | 1 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 647,000 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 0 |
Real Estate Mortgage | Residential Real Estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 1 | 0 | 2 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 208,000 | $ 0 | $ 512,000 | $ 266,000 |
Post-Modification Outstanding Recorded Investment | $ 208,000 | $ 0 | $ 207,000 | $ 266,000 |
Number of Loans | 1 | 1 | ||
Commercial | Asset-based | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 0 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 503,000 | ||
Post-Modification Outstanding Recorded Investment | $ 0 | $ 503,000 | ||
Commercial | Venture Capital Loans | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 4 | 1 | 5 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 3,330,000 | $ 2,408,000 | $ 3,330,000 | $ 4,502,000 |
Post-Modification Outstanding Recorded Investment | $ 3,330,000 | $ 2,408,000 | $ 3,330,000 | $ 2,529,000 |
Commercial | Other Commercial | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 6 | 25 | 19 | 35 |
Pre-Modification Outstanding Recorded Investment | $ 57,000 | $ 16,358,000 | $ 1,131,000 | $ 48,608,000 |
Post-Modification Outstanding Recorded Investment | $ 57,000 | $ 16,358,000 | $ 1,131,000 | $ 30,634,000 |
Consumer | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 1 | 0 | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 18,000 | $ 0 | $ 18,000 | $ 20,000 |
Post-Modification Outstanding Recorded Investment | $ 18,000 | $ 0 | $ 18,000 | $ 20,000 |
Residential Portfolio Segment | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 0 | 1 | 0 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 208,000 | $ 0 | $ 208,000 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 208,000 | $ 0 | $ 208,000 |
Loans and Leases - Leases Receivable Income (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Receivables [Abstract] | ||||
Direct Financing Lease, Interest Income | $ 2,491 | $ 2,278 | $ 4,879 | $ 4,358 |
Loans and Leases - Components of Leases Receivable (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Direct Financing Lease, Net Investment in Leases [Abstract] | ||
Lease payments receivable | $ 213,628 | $ 190,025 |
Unguaranteed residual assets | 23,976 | 21,487 |
Deferred costs and other | 1,822 | 1,373 |
Aggregate net investment in leases | $ 239,426 | $ 212,885 |
Loans and Leases - Maturities of Leases Receivable (Details) $ in Thousands |
Jun. 30, 2022
USD ($)
|
---|---|
Sales-type and Direct Financing Leases, Lease Receivable, Rolling Maturity [Abstract] | |
2022 | $ 29,235 |
2023 | 59,343 |
2024 | 54,917 |
2025 | 37,721 |
2026 | 25,076 |
Thereafter | 33,619 |
Total undiscounted cash flows | 239,911 |
Less: Unearned income | (26,283) |
Present value of lease payments | $ 213,628 |
Loans and Leases - Allowance for Loan and Lease Losses (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
Dec. 31, 2021 |
|
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, beginning of period | $ 197,398 | $ 292,445 | $ 200,564 | $ 348,181 | |
Charge-offs | (2,799) | (816) | (6,033) | (4,804) | |
Recoveries | 4,106 | 5,971 | 6,174 | 7,223 | |
Net (charge-offs) recoveries | 1,307 | 5,155 | 141 | 2,419 | |
Provision for credit losses | 10,000 | 72,000 | 12,000 | 125,000 | |
Balance, end of period | 188,705 | 225,600 | 188,705 | 225,600 | |
Amount of the allowance applicable to loans and leases: | |||||
Individually evaluated | 952 | 3,468 | 952 | 3,468 | |
Collectively evaluated | 187,753 | 222,132 | 187,753 | 222,132 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||||
Individually evaluated | 78,718 | 90,799 | 78,718 | 90,799 | |
Collectively evaluated | 26,422,419 | 19,415,458 | 26,422,419 | 19,415,458 | |
Loans held for investment, net | 26,501,137 | 19,506,257 | 26,501,137 | 19,506,257 | $ 22,941,548 |
Real Estate Mortgage | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, beginning of period | 86,715 | 141,122 | 98,053 | 138,342 | |
Charge-offs | (1,538) | (266) | (1,706) | (634) | |
Recoveries | 1,305 | 4,882 | 1,468 | 5,427 | |
Net (charge-offs) recoveries | (233) | 4,616 | (238) | 4,793 | |
Provision for credit losses | 1,195 | 38,725 | 12,528 | 36,122 | |
Balance, end of period | 85,287 | 107,013 | 85,287 | 107,013 | |
Amount of the allowance applicable to loans and leases: | |||||
Individually evaluated | 140 | 203 | 140 | 203 | |
Collectively evaluated | 85,147 | 106,810 | 85,147 | 106,810 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||||
Individually evaluated | 40,178 | 41,145 | 40,178 | 41,145 | |
Collectively evaluated | 13,509,468 | 8,371,875 | 13,509,468 | 8,371,875 | |
Loans held for investment, net | 13,549,646 | 8,413,020 | 13,549,646 | 8,413,020 | 11,178,720 |
Real Estate Construction and Land | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, beginning of period | 44,161 | 66,775 | 45,079 | 78,356 | |
Charge-offs | (7) | (75) | (7) | (775) | |
Recoveries | 0 | 0 | 149 | 0 | |
Net (charge-offs) recoveries | (7) | (75) | 142 | (775) | |
Provision for credit losses | 2,376 | 12,118 | 3,443 | 22,999 | |
Balance, end of period | 41,778 | 54,582 | 41,778 | 54,582 | |
Amount of the allowance applicable to loans and leases: | |||||
Individually evaluated | 0 | 0 | 0 | 0 | |
Collectively evaluated | 41,778 | 54,582 | 41,778 | 54,582 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||||
Individually evaluated | 27,121 | 3,254 | 27,121 | 3,254 | |
Collectively evaluated | 3,963,918 | 3,502,330 | 3,963,918 | 3,502,330 | |
Loans held for investment, net | 3,991,039 | 3,505,584 | 3,991,039 | 3,505,584 | 3,437,127 |
Commercial | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, beginning of period | 57,056 | 78,716 | 48,718 | 126,403 | |
Charge-offs | (911) | (277) | (3,744) | (2,851) | |
Recoveries | 2,790 | 1,029 | 4,525 | 1,726 | |
Net (charge-offs) recoveries | 1,879 | 752 | 781 | (1,125) | |
Provision for credit losses | 4,904 | 21,771 | 4,532 | 67,581 | |
Balance, end of period | 54,031 | 57,697 | 54,031 | 57,697 | |
Amount of the allowance applicable to loans and leases: | |||||
Individually evaluated | 812 | 3,265 | 812 | 3,265 | |
Collectively evaluated | 53,219 | 54,432 | 53,219 | 54,432 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||||
Individually evaluated | 11,419 | 46,400 | 11,419 | 46,400 | |
Collectively evaluated | 8,465,387 | 7,175,844 | 8,465,387 | 7,175,844 | |
Loans held for investment, net | 8,476,806 | 7,222,244 | 8,476,806 | 7,222,244 | 7,868,051 |
Consumer | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, beginning of period | 9,466 | 5,832 | 8,714 | 5,080 | |
Charge-offs | (343) | (198) | (576) | (544) | |
Recoveries | 11 | 60 | 32 | 70 | |
Net (charge-offs) recoveries | (332) | (138) | (544) | (474) | |
Provision for credit losses | 1,525 | 614 | 561 | 1,702 | |
Balance, end of period | 7,609 | 6,308 | 7,609 | 6,308 | |
Amount of the allowance applicable to loans and leases: | |||||
Individually evaluated | 0 | 0 | 0 | 0 | |
Collectively evaluated | 7,609 | 6,308 | 7,609 | 6,308 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||||
Individually evaluated | 0 | 0 | 0 | 0 | |
Collectively evaluated | 483,646 | 365,409 | 483,646 | 365,409 | |
Loans held for investment, net | $ 483,646 | $ 365,409 | $ 483,646 | $ 365,409 | $ 457,650 |
Loans and Leases - Collateral Dependent Loans Held for Investment (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | $ 62,314 | $ 48,824 |
Real Estate Mortgage | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 48,253 | 30,817 |
Real Estate Construction and Land | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 13,621 | 10,421 |
Consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 440 | 7,586 |
Real Estate Properties [Domain] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 61,874 | 41,238 |
Real Estate Properties [Domain] | Real Estate Mortgage | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 48,253 | 30,817 |
Real Estate Properties [Domain] | Real Estate Construction and Land | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 13,621 | 10,421 |
Real Estate Properties [Domain] | Consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 0 | 0 |
Business Assets [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 440 | 7,586 |
Business Assets [Member] | Real Estate Mortgage | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 0 | 0 |
Business Assets [Member] | Real Estate Construction and Land | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 0 | 0 |
Business Assets [Member] | Consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | $ 440 | $ 7,586 |
Loans and Leases - Allowance for Loan and Lease Losses and Reserve for Unfunded Loan Commitments (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Receivables [Abstract] | ||||
Balance, beginning of period | $ 197,398 | $ 292,445 | $ 200,564 | $ 348,181 |
Reserve for Unfunded Loan Commitments, Balance, beginning of period | 75,071 | 90,571 | 73,071 | 85,571 |
Allowance for Credit Losses, Balance, beginning of period | 272,469 | 383,016 | 273,635 | 433,752 |
Allowance for Loan and Lease Losses, Charge-offs | (2,799) | (816) | (6,033) | (4,804) |
Reserve for Unfunded Loan Commitments, Charge-offs | 0 | 0 | 0 | 0 |
Allowance for Credit Losses, Charge-offs | (2,799) | (816) | (6,033) | (4,804) |
Allowance for Loan and Lease Loss, Recoveries | 4,106 | 5,971 | 6,174 | 7,223 |
Reserve for Unfunded Loan Commitments, Recoveries | 0 | 0 | 0 | 0 |
Allowance for Credit Losses, Recoveries | 4,106 | 5,971 | 6,174 | 7,223 |
Net (charge-offs) recoveries | 1,307 | 5,155 | 141 | 2,419 |
Reserve for Unfunded Loan Commitments, Net charge-offs | 0 | 0 | 0 | 0 |
Allowance For Credit Losses, Net charge-offs | 1,307 | 5,155 | 141 | 2,419 |
Provision for Loan, Leases and Unfunded Loan Commitments | 10,000 | (88,000) | 10,000 | (136,000) |
Provision for credit losses | (10,000) | (72,000) | (12,000) | (125,000) |
Reserve for Unfunded Commitments, Provision (negative provision) | 20,000 | 16,000 | 22,000 | (11,000) |
Balance, end of period | 188,705 | 225,600 | 188,705 | 225,600 |
Reserve for Unfunded Loan Commitments, Balance, end of period | 95,071 | 74,571 | 95,071 | 74,571 |
Allowance for Credit Losses, Balance, end of period | $ 283,776 | $ 300,171 | $ 283,776 | $ 300,171 |
Loans and Leases - Narrative (Details) |
3 Months Ended | 6 Months Ended | 22 Months Ended | |||||
---|---|---|---|---|---|---|---|---|
Jun. 30, 2022
USD ($)
contract
|
Jun. 30, 2021
USD ($)
contract
|
Jun. 30, 2022
USD ($)
contract
|
Jun. 30, 2021
USD ($)
contract
|
Dec. 31, 2021
USD ($)
|
Mar. 31, 2022
USD ($)
|
Mar. 31, 2021
USD ($)
|
Dec. 31, 2020
USD ($)
|
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | $ 78,527,000 | $ 56,803,000 | $ 78,527,000 | $ 56,803,000 | $ 61,174,000 | |||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | (8,700,000) | |||||||
Provision for credit losses | 10,000,000 | 72,000,000 | 12,000,000 | 125,000,000 | ||||
Gross loans and leases held for investment | 26,608,541,000 | 26,608,541,000 | 23,026,308,000 | |||||
Loans and Leases Receivable, Allowance | 188,705,000 | 225,600,000 | 188,705,000 | 225,600,000 | 200,564,000 | $ 197,398,000 | $ 292,445,000 | $ 348,181,000 |
Loans held for investment, net | $ 26,501,137,000 | $ 19,506,257,000 | $ 26,501,137,000 | $ 19,506,257,000 | 22,941,548,000 | |||
Number of loans | contract | 12 | 28 | 28 | 45 | ||||
Pre-Modification Outstanding Recorded Investment | $ 3,613,000 | $ 18,974,000 | $ 4,991,000 | $ 54,754,000 | ||||
Real Estate Mortgage | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | 56,053,000 | 38,198,000 | 56,053,000 | 38,198,000 | 39,832,000 | |||
Provision for credit losses | 1,195,000 | 38,725,000 | 12,528,000 | 36,122,000 | ||||
Gross loans and leases held for investment | 13,570,353,000 | 13,570,353,000 | 11,189,278,000 | |||||
Loans and Leases Receivable, Allowance | 85,287,000 | 107,013,000 | 85,287,000 | 107,013,000 | 98,053,000 | 86,715,000 | 141,122,000 | 138,342,000 |
Loans held for investment, net | 13,549,646,000 | 8,413,020,000 | 13,549,646,000 | 8,413,020,000 | 11,178,720,000 | |||
Commercial | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | 8,964,000 | 16,027,000 | 8,964,000 | 16,027,000 | 16,213,000 | |||
Provision for credit losses | 4,904,000 | 21,771,000 | 4,532,000 | 67,581,000 | ||||
Gross loans and leases held for investment | 8,494,614,000 | 8,494,614,000 | 7,888,068,000 | |||||
Loans and Leases Receivable, Allowance | 54,031,000 | 57,697,000 | 54,031,000 | 57,697,000 | 48,718,000 | $ 57,056,000 | $ 78,716,000 | $ 126,403,000 |
Loans held for investment, net | 8,476,806,000 | $ 7,222,244,000 | 8,476,806,000 | $ 7,222,244,000 | 7,868,051,000 | |||
Residential Real Estate [Member] | Real Estate Mortgage | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | $ 27,524,000 | $ 27,524,000 | 12,292,000 | |||||
Number of Loans | 1 | 1 | ||||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 104,000 | $ 104,000 | ||||||
Loans held for investment, net | $ 9,879,131,000 | $ 9,879,131,000 | 7,416,421,000 | |||||
Number of loans | contract | 1 | 0 | 2 | 2 | ||||
Pre-Modification Outstanding Recorded Investment | $ 208,000 | $ 0 | $ 512,000 | $ 266,000 | ||||
Finance Receivable, Payroll Protection Program Loan [Member] | Commercial | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans held for investment, net | 33,000,000 | 33,000,000 | ||||||
Credit Concentration Risk | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | 19,500,000 | $ 19,500,000 | ||||||
Credit Concentration Risk | Nonaccrual Loans And Leases Benchmark | Fair Value, Concentration of Risk, All Financial Instruments | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Percentage of nonaccrual loans and leases | 25.00% | |||||||
Nonaccrual | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Receivable, 90 or more days past due | 38,100,000 | $ 38,100,000 | 18,500,000 | |||||
Receivable, 30-89 days past due | 15,800,000 | 15,800,000 | 6,300,000 | |||||
Financing receivable, nonaccrual status, current | $ 24,700,000 | $ 24,700,000 | 36,400,000 | |||||
Payment Protection Program 2020 to 2021 | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Proceeds from Loan Originations | 1,650,000,000 | |||||||
Other Commercial | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Number of Loans | contract | 2 | 2 | 2 | 2 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 110,000 | $ 134,000 | $ 110,000 | $ 134,000 | ||||
Other Commercial | Commercial | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | 4,655,000 | 4,655,000 | 11,950,000 | |||||
Loans held for investment, net | $ 1,229,504,000 | $ 1,229,504,000 | 1,471,981,000 | |||||
Number of loans | contract | 6 | 25 | 19 | 35 | ||||
Pre-Modification Outstanding Recorded Investment | $ 57,000 | $ 16,358,000 | $ 1,131,000 | $ 48,608,000 | ||||
Venture Capital Loans | Commercial | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | 3,120,000 | 3,120,000 | 2,799,000 | |||||
Loans held for investment, net | $ 2,179,190,000 | $ 2,179,190,000 | 2,320,593,000 | |||||
Number of loans | contract | 4 | 1 | 5 | 3 | ||||
Pre-Modification Outstanding Recorded Investment | $ 3,330,000 | $ 2,408,000 | $ 3,330,000 | $ 4,502,000 | ||||
Asset-based | Commercial | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | 1,189,000 | 1,189,000 | 1,464,000 | |||||
Loans held for investment, net | $ 5,068,112,000 | $ 5,068,112,000 | $ 4,075,477,000 | |||||
Number of loans | contract | 0 | 1 | ||||||
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 503,000 |
Foreclosed Assets - Summary of Foreclosed Assets (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Other Real Estate Owned Net | $ 0 | $ 12,594 |
Other foreclosed assets | 0 | 249 |
Foreclosed assets, net | 0 | 12,843 |
Commercial real estate | ||
Other Real Estate Owned Net | 0 | 12,594 |
Multifamily | ||
Other Real Estate Owned Net | $ 0 | $ 0 |
Foreclosed Assets - Changes in Foreclosed Assets (Details) - USD ($) $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Other Real Estate Owned Net Covered and NonCovered Including Foreclosed Assets [Abstract] | ||
Balance, beginning of period | $ 12,843 | |
Loans transferred to foreclosed assets | 304 | $ 647 |
Reductions related to sales | (13,147) | |
Balance, end of period | $ 0 |
Goodwill and Other Intangible Assets - Rollforward of Goodwill (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Finite-lived Intangible Assets [Roll Forward] | ||||
CDI and CRI Balance, beginning of period | $ 133,850 | $ 100,550 | $ 133,850 | $ 109,646 |
CDI and CRI Balance, end of period | 133,850 | 100,550 | 133,850 | 100,550 |
Finite-lived Intangible Assets Acquired | 0 | 0 | 0 | 750 |
Accumulated Amortization, beginning of period | (92,542) | (79,238) | (88,893) | (86,005) |
Amortization expense | (3,649) | (2,889) | (7,298) | (5,968) |
Accumulated Amortization, end of period | (96,191) | (82,127) | (96,191) | (82,127) |
Net CDI and CRI, end of period | 37,659 | 18,423 | 37,659 | 18,423 |
Finite Lived Intangible Assets Fully Amortized Portion | $ 0 | $ 0 | $ 0 | $ 9,846 |
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Jun. 30, 2021 |
---|---|---|
Finite-Lived Intangible Assets [Line Items] | ||
Aggregate amortization expense 2022 | $ 6,277 | |
Aggregate amortization expense 2023 | 9,085 | |
Aggregate amortization expense 2024 | 6,404 | |
Aggregate amortization expense 2025 | 4,087 | |
Aggregate amortization expense 2025 | 3,482 | |
Aggregate amortization expense, thereafter | 8,324 | |
Finite-Lived Intangible Assets, Net | $ 37,659 | $ 18,423 |
Other Assets (Details) - USD ($) $ in Thousands |
6 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2022 |
Dec. 31, 2021 |
||||||||
Other Assets [Abstract] | |||||||||
Cash surrender value of BOLI | $ 205,498 | $ 203,836 | |||||||
LIHTC investments | 300,448 | 297,746 | |||||||
Operating lease ROU assets, net (2) | [1] | 128,601 | 123,225 | ||||||
Interest receivable | 128,960 | 120,329 | |||||||
Taxes receivable | 39,635 | 36,011 | |||||||
Equity investments without readily determinable fair values | 63,268 | 62,975 | |||||||
SBIC Investments | 57,337 | 46,861 | |||||||
Prepaid expenses | 26,816 | 27,632 | |||||||
Equity warrants | [2] | 4,001 | 3,555 | ||||||
Equity investments with readily determinable fair values | 57 | 28,578 | |||||||
Other receivables/assets | 146,740 | 133,244 | |||||||
Other assets | 1,355,451 | 1,083,992 | |||||||
Deferred tax assets, net | $ 254,090 | [3] | 0 | ||||||
Vesting period of time-based restricted stock, lower limit | 3 years | ||||||||
Other Assets | |||||||||
Other Assets [Abstract] | |||||||||
Deferred Income Tax Liabilities, Net | 19,600 | ||||||||
Other Assets [Line Items] | |||||||||
Deferred Income Tax Liabilities, Net | $ 19,600 | ||||||||
|
Leases Leases - Lease Expense (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Lease, Cost [Abstract] | ||||
Operating Lease, Cost | $ 9,042 | $ 8,776 | $ 17,521 | $ 17,272 |
Variable Lease, Cost | 36 | 9 | 59 | 24 |
Short-term Lease, Cost | 379 | 429 | 743 | 685 |
Sublease Income | (1,077) | (1,084) | (2,153) | (2,183) |
Lease, Cost, Total | $ 8,380 | $ 8,130 | 16,170 | 15,798 |
Cash paid for amounts included in the measurement of lease liabilities: | ||||
Operating cash flows from operating leases | 17,574 | 18,450 | ||
ROU assets obtained in exchange for lease obligations: | ||||
Operating leases | $ 23,804 | $ 16,649 |
Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Leases [Abstract] | ||
Operating cash flows from operating leases | $ 17,574 | $ 18,450 |
Operating leases | $ 23,804 | $ 16,649 |
Leases - Supplemental Balance Sheet and Other Information (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Leases [Abstract] | ||
Finance Lease, Right-of-Use Asset | $ 128,601 | $ 123,225 |
Operating leases: | ||
Operating Lease, Liability | $ 149,905 | $ 142,117 |
Weighted average remaining lease term (in years) | 5 years 10 months 24 days | 5 years 7 months 6 days |
Weighted average discount rate | 2.28% | 2.23% |
Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | ||
2022 | $ 18,808 | |
2023 | 35,920 | |
2024 | 28,731 | |
2025 | 21,902 | |
2026 | 16,817 | |
Thereafter | 38,902 | |
Total operating lease liabilities | 161,080 | |
Less: Imputed interest | (11,175) | |
Present value of operating lease liabilities | $ 149,905 | $ 142,117 |
Leases Leases - Schedule of Payments to be Received on Operating Leases (Details) $ in Thousands |
Jun. 30, 2022
USD ($)
|
---|---|
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract] | |
2022 | $ 22,902 |
2023 | 40,722 |
2024 | 36,156 |
2025 | 27,659 |
2026 | 21,901 |
Thereafter | 44,456 |
Total undiscounted cash flows | $ 193,796 |
Leases - Narrative (Details) - USD ($) $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Leases [Abstract] | ||
Operating Lease, Impairment Loss | $ 0 | $ 0 |
Borrowings and Subordinated Debentures - Summary of Borrowings and Debentures (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Debt Instrument [Line Items] | ||
Borrowings | $ 1,592,000 | $ 0 |
Rate | 1.59% | 0.00% |
AFX short-term borrowings | ||
Debt Instrument [Line Items] | ||
Line of Credit, Current | $ 250,000 | |
Balance | $ 250,000 | $ 0 |
Rate | 1.70% | 0.00% |
Federal Home Loan Bank of San Francisco | FHLB secured advances | ||
Debt Instrument [Line Items] | ||
Line of Credit, Current | $ 1,230,000 | $ 0 |
Rate | 1.57% | 0.00% |
Federal Home Loan Bank of San Francisco | FHLB unsecured overnight advance | ||
Debt Instrument [Line Items] | ||
Line of Credit, Current | $ 112,000 | $ 0 |
Rate | 1.61% | 0.00% |
Borrowings and Subordinated Debentures - Subordinated Debentures (Details) $ in Thousands, € in Millions |
6 Months Ended | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2022
USD ($)
|
Jun. 30, 2022
EUR (€)
|
Dec. 31, 2021
USD ($)
|
|||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Subordinated Debentures, Gross | $ 933,692 | $ 935,728 | |||||||||||
Subordinated debt | $ 863,756 | $ 863,283 | |||||||||||
Rate | 1.59% | 1.59% | 0.00% | ||||||||||
Debt Issuance Costs, Gross | $ (5,100) | ||||||||||||
Trust Preferred Securities Two Thousand Six Series Three | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Denomination value | € | € 25.8 | ||||||||||||
Subordinated notes due May 2031 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 2.52% | ||||||||||||
London Interbank Offered Rate (LIBOR) | Subordinated Debt Trust V Due September 2033 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 3.10% | ||||||||||||
London Interbank Offered Rate (LIBOR) | Subordinated Debt Trust VI Due September 2033 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 3.05% | ||||||||||||
London Interbank Offered Rate (LIBOR) | Subordinated Debt Trust CII Due September 2033 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 2.95% | ||||||||||||
London Interbank Offered Rate (LIBOR) | Subordinated Debt Trust VII Due April 2034 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 2.75% | ||||||||||||
London Interbank Offered Rate (LIBOR) | Subordinated Debt Trust CIII Due September 2035 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 1.69% | ||||||||||||
London Interbank Offered Rate (LIBOR) | Subordinated Debt Trust FCCI Due March 2037 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 1.60% | ||||||||||||
London Interbank Offered Rate (LIBOR) | Subordinated Debt Trust FCBI Due December 2035 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 1.55% | ||||||||||||
London Interbank Offered Rate (LIBOR) | Trust Preferred Securities Two Thousand Five Series One | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 1.95% | ||||||||||||
London Interbank Offered Rate (LIBOR) | Trust Preferred Securities Two Thousand Five Series Two | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 1.95% | ||||||||||||
London Interbank Offered Rate (LIBOR) | Two Thousand Six One Term Debt Securitization | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 1.95% | ||||||||||||
London Interbank Offered Rate (LIBOR) | Two Thousand Six Two Term Debt Securitization | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 1.95% | ||||||||||||
London Interbank Offered Rate (LIBOR) | Trust Preferred Securities Two Thousand Six Series Four | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 1.95% | ||||||||||||
London Interbank Offered Rate (LIBOR) | Trust Preferred Securities Two Thousand Six Series Five | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 1.95% | ||||||||||||
London Interbank Offered Rate (LIBOR) | Two Thousand Seven One Term Debt Securitization | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 1.95% | ||||||||||||
Euribor Rate | Trust Preferred Securities Two Thousand Six Series Three | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Rate Index (Quarterly Reset) | 2.05% | ||||||||||||
Subordinated Debentures | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Unamortized discount | [1] | $ (69,936) | $ (72,445) | ||||||||||
Rate | 3.36% | [2] | 3.36% | [2] | 2.64% | ||||||||
Subordinated Debentures | Subordinated Debt Trust V Due September 2033 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | $ 10,310 | $ 10,310 | |||||||||||
Rate | 5.13% | [2] | 5.13% | [2] | 3.32% | ||||||||
Subordinated Debentures | Subordinated Debt Trust VI Due September 2033 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | $ 10,310 | $ 10,310 | |||||||||||
Rate | 4.88% | [2] | 4.88% | [2] | 3.25% | ||||||||
Subordinated Debentures | Subordinated Debt Trust CII Due September 2033 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | $ 5,155 | $ 5,155 | |||||||||||
Rate | 4.98% | [2] | 4.98% | [2] | 3.17% | ||||||||
Subordinated Debentures | Subordinated Debt Trust VII Due April 2034 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | $ 61,856 | $ 61,856 | |||||||||||
Rate | 4.04% | [2] | 4.04% | [2] | 2.88% | ||||||||
Subordinated Debentures | Subordinated Debt Trust CIII Due September 2035 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | $ 20,619 | $ 20,619 | |||||||||||
Rate | 3.52% | [2] | 3.52% | [2] | 1.89% | ||||||||
Subordinated Debentures | Subordinated Debt Trust FCCI Due March 2037 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | $ 16,495 | $ 16,495 | |||||||||||
Rate | 3.43% | [2] | 3.43% | [2] | 1.80% | ||||||||
Subordinated Debentures | Subordinated Debt Trust FCBI Due December 2035 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | $ 10,310 | $ 10,310 | |||||||||||
Rate | 3.38% | [2] | 3.38% | [2] | 1.75% | ||||||||
Subordinated Debentures | Trust Preferred Securities Two Thousand Five Series One | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | $ 82,475 | $ 82,475 | |||||||||||
Rate | 3.78% | [2] | 3.78% | [2] | 2.15% | ||||||||
Subordinated Debentures | Trust Preferred Securities Two Thousand Five Series Two | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | $ 128,866 | $ 128,866 | |||||||||||
Rate | 3.24% | [2] | 3.24% | [2] | 2.08% | ||||||||
Subordinated Debentures | Two Thousand Six One Term Debt Securitization | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | $ 51,545 | $ 51,545 | |||||||||||
Rate | 3.24% | [2] | 3.24% | [2] | 2.08% | ||||||||
Subordinated Debentures | Two Thousand Six Two Term Debt Securitization | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | $ 51,550 | $ 51,550 | |||||||||||
Rate | 3.24% | [2] | 3.24% | [2] | 2.08% | ||||||||
Subordinated Debentures | Trust Preferred Securities Two Thousand Six Series Three | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | [3] | $ 27,022 | $ 29,306 | ||||||||||
Rate | 1.61% | [2] | 1.61% | [2] | 1.49% | ||||||||
Subordinated Debentures | Trust Preferred Securities Two Thousand Six Series Four | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | $ 16,470 | $ 16,470 | |||||||||||
Rate | 3.24% | [2] | 3.24% | [2] | 2.08% | ||||||||
Subordinated Debentures | Trust Preferred Securities Two Thousand Six Series Five | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | $ 6,650 | $ 6,650 | |||||||||||
Rate | 3.24% | [2] | 3.24% | [2] | 2.08% | ||||||||
Subordinated Debentures | Two Thousand Seven One Term Debt Securitization | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | $ 39,177 | $ 39,177 | |||||||||||
Rate | 3.24% | [2] | 3.24% | [2] | 2.08% | ||||||||
Subordinated Debentures | Subordinated notes due May 2031 | |||||||||||||
Subordinated Borrowing [Line Items] | |||||||||||||
Balance | $ 394,882 | [4] | $ 394,634 | ||||||||||
Rate | 3.25% | [2] | 3.25% | [2] | 3.25% | ||||||||
|
Borrowings and Subordinated Debentures - Narrative (Details) - USD ($) |
6 Months Ended | |
---|---|---|
Jun. 30, 2022 |
Dec. 31, 2021 |
|
Unused Lines of Credit | ||
Debt Instrument [Line Items] | ||
Amount outstanding | $ 0 | $ 0 |
Current borrowing capacity | 180,000,000 | |
Unused commitment fees | 0 | |
AFX short-term borrowings | ||
Debt Instrument [Line Items] | ||
Current outstanding | 250,000,000 | |
Amount outstanding | 250,000,000 | 0 |
Federal Reserve Bank Advances | ||
Debt Instrument [Line Items] | ||
Loans pledged as collateral | 3,000,000,000 | |
Amount outstanding | 0 | 0 |
Federal Reserve Bank Advances | FHLB secured advances | ||
Debt Instrument [Line Items] | ||
Borrowing capacity description | 2,400,000,000 | |
Federal Home Loan Bank of San Francisco | ||
Debt Instrument [Line Items] | ||
Loans pledged as collateral | 5,700,000,000 | |
Federal Home Loan Bank of San Francisco | Maturity Overnight [Member] | ||
Debt Instrument [Line Items] | ||
Current outstanding | 1,000,000,000 | |
Federal Home Loan Bank of San Francisco | Short-term Debt | ||
Debt Instrument [Line Items] | ||
Current outstanding | 200,000,000 | |
Federal Home Loan Bank of San Francisco | FHLB secured advances | ||
Debt Instrument [Line Items] | ||
Borrowing capacity description | 5,400,000,000 | |
Current outstanding | 1,230,000,000 | 0 |
Federal Home Loan Bank of San Francisco | FHLB unsecured overnight advance | ||
Debt Instrument [Line Items] | ||
Current outstanding | 112,000,000 | $ 0 |
Federal Home Loan Bank of San Francisco | Unused Lines of Credit | ||
Debt Instrument [Line Items] | ||
Borrowing capacity description | $ 112,000,000 |
Derivatives (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | $ 133,608 | $ 134,472 |
Derivative assets | 8,830 | 6,064 |
Interest rate contracts | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 86,533 | 87,470 |
Derivative assets | 4,198 | 992 |
Interest rate contracts | Liability | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 86,533 | 87,470 |
Derivative liabilities | 4,008 | 931 |
Foreign exchange contracts | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 28,463 | 28,463 |
Derivative assets | 631 | 1,517 |
Foreign exchange contracts | Liability | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 28,463 | 28,463 |
Derivative liabilities | 0 | 0 |
Interest rate and economic contracts | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 114,996 | 115,933 |
Derivative assets | 4,829 | 2,509 |
Interest rate and economic contracts | Liability | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 114,996 | 115,933 |
Derivative liabilities | 4,008 | 931 |
Equity warrant assets | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 18,612 | 18,539 |
Derivative assets | $ 4,001 | $ 3,555 |
Commitments and Contingencies - Summary of Commitments (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Commitments and Contingencies Disclosure [Abstract] | ||
Loan commitments to extend credit | $ 11,866,437 | $ 9,006,350 |
Standby letters of credit | 328,143 | 345,769 |
Total | $ 12,194,580 | $ 9,352,119 |
Commitments and Contingencies - Years In Which Commitments are Expected to be Paid (Details) $ in Thousands |
Jun. 30, 2022
USD ($)
|
---|---|
Other Commitments [Line Items] | |
Commitments to contribute capital to small business investment companies and CRA-related loan pools | $ 80,403 |
2022 | |
Other Commitments [Line Items] | |
Commitments to contribute capital to small business investment companies and CRA-related loan pools | 35,761 |
2023 | |
Other Commitments [Line Items] | |
Commitments to contribute capital to small business investment companies and CRA-related loan pools | 39,084 |
2024 | |
Other Commitments [Line Items] | |
Commitments to contribute capital to small business investment companies and CRA-related loan pools | $ 5,558 |
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions |
Jun. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Commitments and Contingencies Disclosure [Abstract] | ||
Commitment to contribute capital | $ 80.4 | $ 85.9 |
Fair Value Measurements - Narrative (Details) - USD ($) |
6 Months Ended | |
---|---|---|
Jun. 30, 2022 |
Dec. 31, 2021 |
|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
SBIC Investments | $ 57,337,000 | $ 46,861,000 |
Fair Value, Assets, Level 3 to Level 2 Transfers, Amount | 4,600,000 | |
Warrant | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | $ (9,000) |
Fair Value Measurements - Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, FV-NI | $ 57 | $ 28,578 |
Securities available-for-sale, at fair value | 6,780,648 | 10,694,458 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 3,555 | |
Agency residential CMOs | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 803,309 | 1,038,134 |
Private label residential CMOs | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 216,103 | 264,417 |
Collateralized loan obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 352,290 | 385,362 |
Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 700,605 | 2,315,968 |
Agency commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 976,221 | 1,688,967 |
Asset-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 32,647 | 129,547 |
SBA securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 23,727 | 29,644 |
Corporate debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 369,461 | 527,094 |
U.S. Treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 696,054 | 966,898 |
Private label commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 32,516 | 450,217 |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 4,001 | 3,555 |
Interest rate and economic contracts | 4,829 | 2,509 |
Securities available-for-sale, at fair value | 6,780,648 | |
Fair Value, Measurements, Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 0 | 0 |
Interest rate and economic contracts | 0 | 0 |
Equity Securities, FV-NI | 57 | 28,578 |
Securities available-for-sale, at fair value | 696,054 | 966,898 |
Fair Value, Measurements, Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 0 | 0 |
Interest rate and economic contracts | 4,829 | 2,509 |
Equity Securities, FV-NI | 0 | 0 |
Securities available-for-sale, at fair value | 6,084,594 | 9,712,559 |
Fair Value, Measurements, Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 4,001 | 3,555 |
Interest rate and economic contracts | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Securities available-for-sale, at fair value | 0 | 15,001 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise pass through securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 2,577,715 | 2,898,210 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise pass through securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise pass through securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 2,577,715 | 2,898,210 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise pass through securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Agency residential CMOs | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 803,309 | 1,038,134 |
Fair Value, Measurements, Recurring | Agency residential CMOs | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Agency residential CMOs | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 803,309 | 1,038,134 |
Fair Value, Measurements, Recurring | Agency residential CMOs | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Private label residential CMOs | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 216,103 | 264,417 |
Fair Value, Measurements, Recurring | Private label residential CMOs | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Private label residential CMOs | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 216,103 | 264,417 |
Fair Value, Measurements, Recurring | Private label residential CMOs | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Collateralized loan obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 352,290 | 385,362 |
Fair Value, Measurements, Recurring | Collateralized loan obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Collateralized loan obligations | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 352,290 | 385,362 |
Fair Value, Measurements, Recurring | Collateralized loan obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 700,605 | 2,315,968 |
Fair Value, Measurements, Recurring | Municipal securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Municipal securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 700,605 | 2,315,968 |
Fair Value, Measurements, Recurring | Municipal securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Agency commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 976,221 | 1,688,967 |
Fair Value, Measurements, Recurring | Agency commercial MBS | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Agency commercial MBS | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 976,221 | 1,688,967 |
Fair Value, Measurements, Recurring | Agency commercial MBS | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Asset-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 32,647 | 129,547 |
Fair Value, Measurements, Recurring | Asset-backed securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Asset-backed securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 32,647 | 129,547 |
Fair Value, Measurements, Recurring | Asset-backed securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | SBA securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 23,727 | 29,644 |
Fair Value, Measurements, Recurring | SBA securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | SBA securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 23,727 | 29,644 |
Fair Value, Measurements, Recurring | SBA securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Corporate debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 369,461 | 527,094 |
Fair Value, Measurements, Recurring | Corporate debt securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Corporate debt securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 369,461 | 527,094 |
Fair Value, Measurements, Recurring | Corporate debt securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | U.S. Treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 696,054 | 966,898 |
Fair Value, Measurements, Recurring | U.S. Treasury securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 696,054 | 966,898 |
Fair Value, Measurements, Recurring | U.S. Treasury securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | U.S. Treasury securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Private label commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 32,516 | 450,217 |
Fair Value, Measurements, Recurring | Private label commercial MBS | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Private label commercial MBS | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 32,516 | 435,216 |
Fair Value, Measurements, Recurring | Private label commercial MBS | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | $ 0 | $ 15,001 |
Fair Value Measurements - Quantitative Inputs and Assumptions Used for Equity Warrants (Details) - Warrant - Fair Value, Measurements, Recurring - Level 3 |
6 Months Ended |
---|---|
Jun. 30, 2022 | |
Weighted Average | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Equity Warrants, Measurement Input, Remaining Life | 3 years 1 month 2 days |
Minimum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Equity Warrants, Measurement Input, Remaining Life | 29 days |
Maximum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Equity Warrants, Measurement Input, Remaining Life | 4 years 11 months 23 days |
Measurement Input, Price Volatility | Weighted Average | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 0.289 |
Measurement Input, Price Volatility | Minimum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 0.252 |
Measurement Input, Price Volatility | Maximum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 1.413 |
Measurement Input, Risk Free Interest Rate | Weighted Average | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 0.029 |
Measurement Input, Risk Free Interest Rate | Minimum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 0.013 |
Measurement Input, Risk Free Interest Rate | Maximum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 0.030 |
Fair Value Measurements - Activity for Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Level 3 CMO [Roll Forward] | ||||
Unrealized net holding gains (losses) on securities available-for-sale arising during the period | $ (72,572,000) | $ 54,076,000 | $ (682,398,000) | $ (37,447,000) |
Fair Value, Assets, Level 3 to Level 2 Transfers, Amount | $ (4,600,000) | |||
Discounted Cash Flow | ||||
Level 3 CMO [Roll Forward] | ||||
Financing Receivable, before Allowance for Credit Loss, Average Yield | 7.11% | |||
Level 3 | ||||
Level 3 CMO [Roll Forward] | ||||
Equity warrants, Balance, beginning of period | $ 3,555,000 | |||
Total included in earnings, Equity Warrants | 2,244,000 | |||
Total included in other comprehensive income | 0 | |||
Stock and Warrants Issued During Period, Value, Preferred Stock and Warrants | 392,000 | |||
Sales, Equity Warrants | (2,181,000) | |||
Net settlements, Equity Warrants | 0 | |||
Fair Value, Equity, Transfers to Level 1, Amount | 9,000 | |||
Fair Value, Assets, Level 3 to Level 2 Transfers, Amount | 0 | |||
Fair Value, Measurements, Recurring | ||||
Level 3 CMO [Roll Forward] | ||||
Equity warrants, Balance, beginning of period | 3,555,000 | |||
Equity warrants, Balance, end of period | 4,001,000 | 4,001,000 | ||
Fair Value, Measurements, Recurring | Level 3 | ||||
Level 3 CMO [Roll Forward] | ||||
Equity warrants, Balance, beginning of period | 3,555,000 | |||
Equity warrants, Balance, end of period | 4,001,000 | 4,001,000 | ||
Asset-backed | Fair Value, Measurements, Recurring | Level 3 | ||||
Level 3 CMO [Roll Forward] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 15,001,000 | |||
Total included in earnings | (8,000) | |||
Total included in other comprehensive income | (156,000) | |||
Stock and Warrants Issued During Period, Value, Preferred Stock and Warrants | 0 | |||
Net settlements | (10,285,000) | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $ 0 | 0 | ||
Unrealized net holding gains (losses) on securities available-for-sale arising during the period | 0 | |||
Fair Value, Equity, Transfers to Level 1, Amount | 0 | |||
Fair Value, Assets, Level 3 to Level 2 Transfers, Amount | (4,552,000) | |||
Warrant | ||||
Level 3 CMO [Roll Forward] | ||||
Fair value transfers of assets measured on a recurring basis | $ 9,000 |
Fair Value Measurements - Assets Measured at Fair Value on a Non-Recurring Basis (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 23,501 | $ 30,882 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 13,760 | 2,915 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 9,741 | 27,967 |
Non Purchased Credit Impaired Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 23,501 | 30,882 |
Non Purchased Credit Impaired Loans and Leases | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Non Purchased Credit Impaired Loans and Leases | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 13,760 | 2,915 |
Non Purchased Credit Impaired Loans and Leases | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 9,741 | $ 27,967 |
Fair Value Measurements - Losses Recognized on Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total losses | $ 1,569 | $ 1,951 | $ 1,584 | $ 2,667 |
Non Purchased Credit Impaired Loans and Leases | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total losses | 1,569 | 1,951 | 1,584 | 2,653 |
Other real estate and foreclosed assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total losses | $ 0 | $ 0 | $ 0 | $ 14 |
Fair Value Measurements - Fair Value Measurements - Valuation Methodology and Unobservable Inputs for Level 3 Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2022
USD ($)
|
Dec. 31, 2021
USD ($)
|
|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 23,501 | $ 30,882 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 9,741 | 27,967 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 13,760 | 2,915 |
Non Purchased Credit Impaired Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 23,501 | 30,882 |
Non Purchased Credit Impaired Loans and Leases | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 9,741 | 27,967 |
Non Purchased Credit Impaired Loans and Leases | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 13,760 | $ 2,915 |
Discount Rates | Discounted Cash Flow | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 7,103 | |
No Discounts | Third party appraisals | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 2,638 | |
Measurement Input, Discount Rate | Minimum | Discounted Cash Flow | Non Purchased Credit Impaired Loans and Leases | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rates | 0.0550 | |
Measurement Input, Discount Rate | Maximum | Discounted Cash Flow | Non Purchased Credit Impaired Loans and Leases | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rates | 0.0925 |
Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Certain Financial Instruments (Details) - USD ($) $ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
Jun. 30, 2021 |
|||||
---|---|---|---|---|---|---|---|---|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Cash and due from banks | $ 197,027 | $ 112,548 | ||||||
Interest-earning deposits in financial institutions | 2,192,877 | 3,944,686 | ||||||
Securities available-for-sale, Carrying Amount | 6,780,648 | |||||||
Investment in FHLB stock, Carrying Amount | 33,210 | 17,250 | ||||||
Investment in FHLB stock, Fair Value | 33,210 | 17,250 | ||||||
Securities held-to-maturity, at amortized cost, net of allowance for credit losses | 2,260,367 | [1] | 0 | |||||
Loans and leases, net | [2] | 26,312,432 | 22,740,984 | |||||
Loans and leases held for investment, net | 24,639,943 | |||||||
Warrants and Rights Outstanding | 3,555 | |||||||
Other derivative assets, Carrying Amount | 4,829 | 2,509 | $ 4,001 | |||||
Equity Securities, FV-NI | 57 | 28,578 | ||||||
Servicing rights | 839 | 1,228 | ||||||
Demand, interest checking, money market, and savings deposits | 29,218,646 | 32,734,949 | ||||||
Interest-bearing Domestic Deposit, Brokered | 2,185,248 | 889,976 | ||||||
Time deposits | 2,564,258 | 1,372,832 | ||||||
Time deposits | 2,542,229 | 1,371,527 | ||||||
Borrowings | 1,592,000 | 0 | ||||||
Borrowings | 1,591,920 | 0 | ||||||
Subordinated debt | 863,756 | 863,283 | ||||||
Subordinated Debt Obligations, Fair Value Disclosure | 880,648 | 917,342 | ||||||
Derivative Liability | 4,008 | 931 | ||||||
Debt Securities, Held-to-maturity, Fair Value | [1] | 2,209,759 | ||||||
Level 1 | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Cash and due from banks | 197,027 | 112,548 | ||||||
Interest-earning deposits in financial institutions | 2,192,877 | 3,944,686 | ||||||
Investment in FHLB stock, Fair Value | 0 | 0 | ||||||
Demand, interest checking, money market, and savings deposits | 0 | 0 | ||||||
Interest-bearing Domestic Deposit, Brokered | 0 | 0 | ||||||
Time deposits | 0 | 0 | ||||||
Borrowings | 1,392,000 | 0 | ||||||
Subordinated Debt Obligations, Fair Value Disclosure | 0 | 0 | ||||||
Level 2 | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Cash and due from banks | 0 | 0 | ||||||
Interest-earning deposits in financial institutions | 0 | 0 | ||||||
Investment in FHLB stock, Fair Value | 33,210 | 17,250 | ||||||
Demand, interest checking, money market, and savings deposits | 29,218,646 | 32,734,949 | ||||||
Interest-bearing Domestic Deposit, Brokered | 2,185,248 | 889,976 | ||||||
Time deposits | 2,542,229 | 1,371,527 | ||||||
Borrowings | 199,920 | 0 | ||||||
Subordinated Debt Obligations, Fair Value Disclosure | 880,648 | 917,342 | ||||||
Level 3 | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Cash and due from banks | 0 | 0 | ||||||
Interest-earning deposits in financial institutions | 0 | 0 | ||||||
Investment in FHLB stock, Fair Value | 0 | 0 | ||||||
Loans and leases held for investment, net | 24,626,183 | |||||||
Equity warrants | 3,555 | |||||||
Demand, interest checking, money market, and savings deposits | 0 | 0 | ||||||
Interest-bearing Domestic Deposit, Brokered | 0 | 0 | ||||||
Time deposits | 0 | 0 | ||||||
Borrowings | 0 | 0 | ||||||
Subordinated Debt Obligations, Fair Value Disclosure | 0 | 0 | ||||||
Fair Value, Measurements, Recurring | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Equity warrants | 4,001 | 3,555 | ||||||
Other derivative assets, Fair Value | 4,829 | 2,509 | ||||||
Derivative liabilities | 4,008 | 931 | ||||||
Fair Value, Measurements, Recurring | Level 1 | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Equity warrants | 0 | 0 | ||||||
Other derivative assets, Fair Value | 0 | 0 | ||||||
Equity Securities, FV-NI | 57 | 28,578 | ||||||
Servicing rights | 0 | 0 | ||||||
Derivative liabilities | 0 | 0 | ||||||
Debt Securities, Held-to-maturity, Fair Value | 180,896 | |||||||
Fair Value, Measurements, Recurring | Level 2 | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Equity warrants | 0 | 0 | ||||||
Other derivative assets, Fair Value | 4,829 | 2,509 | ||||||
Equity Securities, FV-NI | 0 | 0 | ||||||
Servicing rights | 0 | 0 | ||||||
Derivative liabilities | 4,008 | 931 | ||||||
Debt Securities, Held-to-maturity, Fair Value | 2,028,863 | |||||||
Fair Value, Measurements, Recurring | Level 3 | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Equity warrants | 4,001 | 3,555 | ||||||
Other derivative assets, Fair Value | 0 | 0 | ||||||
Equity Securities, FV-NI | 0 | 0 | ||||||
Servicing rights | 839 | 1,228 | ||||||
Derivative liabilities | 0 | 0 | ||||||
Debt Securities, Held-to-maturity, Fair Value | 0 | |||||||
NonPCI and PCI Loans | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Loans and leases held for investment, net | 23,461,156 | |||||||
NonPCI and PCI Loans | Level 1 | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Loans and leases held for investment, net | 0 | 0 | ||||||
NonPCI and PCI Loans | Level 2 | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Loans and leases held for investment, net | $ 13,760 | 2,915 | ||||||
NonPCI and PCI Loans | Level 3 | ||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||||||
Loans and leases held for investment, net | $ 23,458,241 | |||||||
|
Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|||||
Earnings Per Share [Abstract] | ||||||||
Net earnings from continuing operations | $ 122,360 | $ 180,512 | $ 242,488 | $ 330,918 | ||||
Less: Earnings allocated to unvested restricted stock | (2,351) | [1] | (3,172) | [1] | (4,389) | (5,495) | ||
Net earnings allocated to common shares | $ 120,009 | $ 177,340 | $ 238,099 | $ 325,423 | ||||
Weighted-average basic shares and unvested restricted stock outstanding (shares) | 120,022 | 119,386 | 119,810 | 119,121 | ||||
Weighted-average unvested restricted stock outstanding (shares) | (2,460) | (2,356) | (2,354) | (2,181) | ||||
Weighted-average basic shares outstanding (shares) | 117,562 | 117,030 | 117,456 | 116,940 | ||||
Basic net income per share (usd per share) | $ 1.02 | $ 1.52 | $ 2.03 | $ 2.78 | ||||
Net earnings from continuing operations allocated to common shares | $ 120,009 | $ 177,340 | $ 238,099 | $ 325,423 | ||||
Diluted net income per share (usd per share) | $ 1.02 | $ 1.52 | $ 2.03 | $ 2.78 | ||||
|
Revenue From Contracts With Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Disaggregation of Revenue [Line Items] | ||||
Total interest income | $ 350,518 | $ 280,505 | $ 673,422 | $ 553,842 |
Service charges on deposit accounts | 3,634 | 3,452 | 7,205 | 6,386 |
Other commissions and fees | 10,813 | 10,704 | 22,393 | 19,862 |
Leased equipment income | 12,335 | 10,847 | 25,429 | 22,201 |
Gain on sale of loans and leases | 12 | 1,422 | 72 | 1,561 |
Net realized (losses) gains | (1,209) | 0 | (1,105) | 101 |
Other income | 3,049 | 2,902 | 6,204 | 7,018 |
Total noninterest income | 34,346 | 40,371 | 55,164 | 85,200 |
Revenues | 384,864 | 320,876 | 728,586 | 639,042 |
Service charges on deposit accounts | 7,700 | 6,449 | 15,042 | 12,420 |
Dividends and Gains (Losses) on Equity Investments | 4,097 | 5,394 | (7,278) | 16,298 |
Warrant income | 1,615 | 5,650 | 2,244 | 11,773 |
Interest Income | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 0 | 0 | 0 | 0 |
Service charges on deposit accounts | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 3,634 | 3,452 | 7,205 | 6,386 |
Other commissions and fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 4,001 | 2,603 | 7,774 | 5,460 |
Leased equipment income | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 0 | 0 | 0 | 0 |
Gain on sale of loans | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 0 | 0 | 0 | 0 |
Gain on sale of securities | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 0 | 0 | 0 | 0 |
Other income | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 65 | 394 | 63 | 574 |
Noninterest Income | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 7,700 | 6,449 | 15,042 | 12,420 |
Dividends and Gains (Losses) on Equity Investments | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 0 | 0 | 0 | 0 |
Warranty Income | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | $ 0 | $ 0 | $ 0 | $ 0 |
Revenue From Contracts With Customers - Disaggregation of Revenue Based on Timing of Revenue Recognition (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
Revenue From Contracts With Customers [Abstract] | ||||
Products and services transferred at a point in time | $ 3,771 | $ 3,068 | $ 7,697 | $ 6,065 |
Products and services transferred over time | 3,929 | 3,381 | 7,345 | 6,355 |
Total revenue from contracts with customers | $ 7,700 | $ 6,449 | $ 15,042 | $ 12,420 |
Revenue From Contracts With Customers - Contract Balances (Details) - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2022 |
Dec. 31, 2021 |
|
Statement of Financial Position [Abstract] | ||
Receivables, which are included in "Other assets" | $ 1,406 | $ 1,066 |
Contract liabilities, which are included in "Accrued interest payable and other liabilities" | $ 163 | $ 229 |
Revenue From Contracts With Customers - Narrative (Details) |
Dec. 31, 2021
USD ($)
|
---|---|
Revenue From Contracts With Customers [Abstract] | |
Contract with Customer, Liability | $ 66,000 |
Stockholders' Equity - Narrative (Details) |
3 Months Ended | 6 Months Ended | ||||
---|---|---|---|---|---|---|
Jun. 30, 2022
USD ($)
$ / shares
shares
|
Jun. 30, 2021
USD ($)
|
Jun. 30, 2022
USD ($)
$ / shares
shares
|
Jun. 30, 2021
USD ($)
|
Jun. 06, 2022
USD ($)
$ / shares
shares
|
Dec. 31, 2021
USD ($)
$ / shares
shares
|
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Restricted Stock Amortization | $ | $ 9,000,000 | $ 8,200,000 | $ 16,500,000 | $ 14,600,000 | ||
Unvested restricted shares (shares) | shares | 2,516,279 | 2,516,279 | 2,312,080 | |||
Vesting period of time-based restricted stock, lower limit | 3 years | |||||
Preferred stock issued (shares) | shares | 20,530,000 | |||||
Preferred Stock, Liquidation Preference Per Share | $ / shares | $ 1,000 | |||||
Preferred Stock Depository Share | $ | $ 25.00 | $ 25.00 | ||||
Payments of Stock Issuance Costs | $ | $ 14,700,000 | |||||
Preferred stock par value (usd per share) | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | |||
Preferred stock ($0.01 par value; 5,000,000 shares authorized; 513,250 Series A shares, | $ | $ 498,516,000 | $ 498,516,000 | $ 513,300,000 | $ 0 | ||
Stock Issued During Period, Value, New Issues | $ | $ 498,516,000 | |||||
1/40th Ownership Interest | 0.025 | |||||
Preferred Class A | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Investment Interest Rate | 7.75% | |||||
Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period of time-based restricted stock, higher limit | 4 years | |||||
Performance Shares | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unvested restricted shares (shares) | shares | 505,647 | 505,647 | ||||
Vesting term | 3 years | |||||
Performance Shares | Minimum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting percentage | 0.00% | |||||
Performance Shares, One | Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting percentage | 150.00% | |||||
Performance Shares, Two | Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting percentage | 200.00% | |||||
PacWest 2017 Stock Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares available for grant (shares) | shares | 2,083,271 | 2,083,271 | ||||
Unrecognized share based compensation expense | $ | $ 82,300,000 | $ 82,300,000 | ||||
PacWest 2017 Stock Incentive Plan [Member] | Time-Based Restricted Stock Awards | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unvested restricted shares (shares) | shares | 2,516,279 | 2,516,279 | ||||
PacWest 2017 Revised Stock Incentive Plan | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of shares authorized (shares) | shares | 6,650,000 | 6,650,000 |
Related Party Disclosures (Details Textuals) - Residential Mortgage $ in Thousands |
3 Months Ended |
---|---|
Mar. 31, 2022
USD ($)
| |
Related Party Transactions [Abstract] | |
Payments to Acquire Receivables | $ 133,100 |
Related Party Transaction [Line Items] | |
Payments to Acquire Receivables | $ 133,100 |
Subsequent Events (Details) - $ / shares |
3 Months Ended | |||
---|---|---|---|---|
Aug. 01, 2022 |
Jun. 30, 2022 |
Mar. 31, 2022 |
Mar. 31, 2021 |
|
Subsequent Event [Line Items] | ||||
Dividends declared per share (usd per share) | $ 0.25 | $ 0.25 | $ 0.25 | |
Subsequent Event | Dividend Declared | ||||
Subsequent Event [Line Items] | ||||
Dividends declared per share (usd per share) | $ 0.25 | |||
Preferred Stock, Dividends Per Share, Declared | $ 0.4575 |
Label | Element | Value |
---|---|---|
Civic Acquisition [Member] | ||
Business Combination, Cash Consideration | pacw_BusinessCombinationCashConsideration | $ 160,420,000 |
Liabilities | us-gaap_Liabilities | 147,577,000 |
Civic [Member] | ||
Assets | us-gaap_Assets | $ 307,997,000 |
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